Canada Pension Plan Investment Board lifted its position in Texas Instruments Incorporated (NASDAQ:TXN) by 49.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,307 shares of the semiconductor company’s stock after purchasing an additional 23,904 shares during the period. Canada Pension Plan Investment Board’s holdings in Texas Instruments were worth $7,758,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TXN. Bronfman E.L. Rothschild L.P. lifted its holdings in Texas Instruments by 7.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,372 shares of the semiconductor company’s stock worth $813,000 after buying an additional 486 shares during the period. Merit Financial Group LLC lifted its holdings in Texas Instruments by 13.7% during the second quarter. Merit Financial Group LLC now owns 4,063 shares of the semiconductor company’s stock worth $448,000 after buying an additional 488 shares during the period. Hartland & Co. LLC lifted its holdings in Texas Instruments by 3.5% during the second quarter. Hartland & Co. LLC now owns 14,844 shares of the semiconductor company’s stock worth $1,636,000 after buying an additional 500 shares during the period. Gould Asset Management LLC CA lifted its holdings in Texas Instruments by 20.2% during the second quarter. Gould Asset Management LLC CA now owns 2,970 shares of the semiconductor company’s stock worth $327,000 after buying an additional 500 shares during the period. Finally, Wilkins Investment Counsel Inc. lifted its holdings in Texas Instruments by 3.7% during the second quarter. Wilkins Investment Counsel Inc. now owns 14,080 shares of the semiconductor company’s stock worth $1,552,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.
In other news, Director Martin S. Craighead bought 10,900 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The shares were purchased at an average cost of $91.70 per share, with a total value of $999,530.00. Following the transaction, the director now directly owns 13,100 shares in the company, valued at $1,201,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the insider now directly owns 43,270 shares in the company, valued at $4,067,380. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. On average, analysts expect that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.
Texas Instruments declared that its board has initiated a stock repurchase plan on Thursday, September 20th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Wednesday, October 31st were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, October 30th. Texas Instruments’s dividend payout ratio is presently 71.96%.
TXN has been the subject of a number of analyst reports. Sanford C. Bernstein restated a “buy” rating and set a $115.00 target price on shares of Texas Instruments in a report on Wednesday, October 24th. Citigroup restated a “buy” rating on shares of Texas Instruments in a report on Wednesday, October 24th. Loop Capital lowered their target price on Texas Instruments to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Barclays lowered their target price on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. Finally, BidaskClub raised Texas Instruments from a “sell” rating to a “hold” rating in a research report on Friday, August 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 company’s stock. The company has an average rating of “Hold” and an average price target of $117.11.
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Texas Instruments 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.
See Also: Ex-Dividend
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