1,172,700 Shares in Texas Instruments Incorporated (TXN) Purchased by Renaissance Technologies LLC

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Renaissance Technologies LLC acquired a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the third quarter, Holdings Channel reports. The firm acquired 1,172,700 shares of the semiconductor company’s stock, valued at approximately $125,819,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TXN. Riverhead Capital Management LLC boosted its holdings in shares of Texas Instruments by 61.2% in the 3rd quarter. Riverhead Capital Management LLC now owns 68,957 shares of the semiconductor company’s stock worth $7,398,000 after acquiring an additional 26,186 shares in the last quarter. Cpwm LLC raised its position in Texas Instruments by 122.3% in the 3rd quarter. Cpwm LLC now owns 8,384 shares of the semiconductor company’s stock worth $900,000 after purchasing an additional 4,613 shares during the last quarter. Bristol Gate Capital Partners Inc. raised its position in Texas Instruments by 13.4% in the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 324,528 shares of the semiconductor company’s stock worth $34,819,000 after purchasing an additional 38,255 shares during the last quarter. People s United Financial Inc. raised its position in Texas Instruments by 54.0% in the 3rd quarter. People s United Financial Inc. now owns 123,854 shares of the semiconductor company’s stock worth $13,274,000 after purchasing an additional 43,432 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Texas Instruments by 3.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 753,207 shares of the semiconductor company’s stock worth $80,812,000 after purchasing an additional 23,901 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Shares of Texas Instruments stock opened at $92.38 on Friday. The firm has a market cap of $93.48 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. Texas Instruments Incorporated has a 52 week low of $87.90 and a 52 week high of $120.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. As a group, sell-side analysts forecast that Texas Instruments Incorporated will post 5.42 EPS for the current year.

Texas Instruments announced that its board has approved a share buyback plan on Thursday, September 20th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.77 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. Texas Instruments’s payout ratio is presently 71.96%.

In related news, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction on 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 approximately $4,067,380. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin S. Craighead acquired 10,900 shares of the stock in a transaction that occurred on Thursday, October 25th. The stock was purchased at an average price of $91.70 per share, with a total value of $999,530.00. Following the transaction, the director now owns 13,100 shares in the company, valued at $1,201,270. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating for the company in a research report on Wednesday, October 24th. BidaskClub cut shares of Texas Instruments from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Zacks Investment Research cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. BMO Capital Markets dropped their price objective on shares of Texas Instruments from $138.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Finally, Susquehanna Bancshares dropped their price objective on shares of Texas Instruments from $135.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Texas Instruments currently has an average rating of “Hold” and an average price target of $117.11.

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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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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