Texas Instruments Incorporated (NASDAQ:TXN) Shares Sold by Findlay Park Partners LLP
Findlay Park Partners LLP decreased its position in Texas Instruments Incorporated (NASDAQ:TXN) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 865,707 shares of the semiconductor company’s stock after selling 276,430 shares during the quarter. Findlay Park Partners LLP owned about 0.09% of Texas Instruments worth $92,882,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC acquired a new position in Texas Instruments in the 2nd quarter worth about $100,000. Centaurus Financial Inc. acquired a new position in shares of Texas Instruments during the 2nd quarter valued at about $101,000. Baker Ellis Asset Management LLC acquired a new position in shares of Texas Instruments during the 2nd quarter valued at about $105,000. Kwmg LLC acquired a new position in shares of Texas Instruments during the 2nd quarter valued at about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Texas Instruments during the 3rd quarter valued at about $107,000. 84.70% of the stock is owned by institutional investors and hedge funds.
TXN has been the subject of several recent analyst reports. BidaskClub upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. KeyCorp started coverage on Texas Instruments in a research report on Tuesday, September 25th. They issued a “sector weight” rating for the company. Zacks Investment Research downgraded Texas Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Goldman Sachs Group upgraded Texas Instruments from a “sell” rating to a “neutral” rating in a research report on Thursday, October 18th. Finally, Citigroup reiterated a “buy” rating on shares of Texas Instruments in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $117.11.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.05. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. As a group, equities research analysts expect that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a yield of 3.20%. Texas Instruments’s payout ratio is currently 71.96%.
Texas Instruments declared that its Board of Directors has authorized a share repurchase program on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Martin S. Craighead purchased 10,900 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were bought at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the completion of the acquisition, the director now directly owns 13,100 shares in the company, valued at approximately $1,201,270. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kyle M. Flessner sold 16,088 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total value of $1,512,272.00. Following the completion of the sale, the insider now owns 43,270 shares in the company, valued at $4,067,380. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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