Orion Portfolio Solutions LLC lifted its holdings in Texas Instruments Incorporated (NASDAQ:TXN – Get Rating) by 16.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,614 shares of the semiconductor company’s stock after buying an additional 2,203 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Texas Instruments were worth $2,399,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in shares of Texas Instruments during the fourth quarter valued at $1,534,890,000. Wellington Management Group LLP boosted its holdings in shares of Texas Instruments by 7.6% during the 1st quarter. Wellington Management Group LLP now owns 31,412,885 shares of the semiconductor company’s stock valued at $5,763,635,000 after acquiring an additional 2,209,099 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Texas Instruments by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,638,302 shares of the semiconductor company’s stock worth $2,685,836,000 after acquiring an additional 1,779,273 shares during the period. BlackRock Inc. raised its holdings in shares of Texas Instruments by 2.0% during the first quarter. BlackRock Inc. now owns 75,269,448 shares of the semiconductor company’s stock valued at $13,810,434,000 after purchasing an additional 1,484,246 shares during the last quarter. Finally, State Street Corp lifted its position in Texas Instruments by 2.9% during the fourth quarter. State Street Corp now owns 40,229,601 shares of the semiconductor company’s stock valued at $7,582,073,000 after purchasing an additional 1,146,109 shares during the period. Institutional investors own 83.72% of the company’s stock.
Wall Street Analyst Weigh In
TXN has been the subject of a number of research reports. Bank of America cut Texas Instruments from a “buy” rating to a “neutral” rating and lowered their price target for the company from $190.00 to $175.00 in a report on Wednesday, June 29th. Mizuho lowered their target price on Texas Instruments from $175.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. StockNews.com downgraded Texas Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Benchmark assumed coverage on shares of Texas Instruments in a report on Wednesday, June 29th. They issued a “buy” rating and a $205.00 price objective on the stock. Finally, Oppenheimer reduced their target price on shares of Texas Instruments from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $182.19.
Texas Instruments Price Performance
Texas Instruments (NASDAQ:TXN – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The semiconductor company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.07 by $0.38. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Texas Instruments had a net margin of 43.78% and a return on equity of 64.02%. On average, equities analysts anticipate that Texas Instruments Incorporated will post 9.35 EPS for the current fiscal year.
Texas Instruments Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be given a dividend of $1.24 per share. The ex-dividend date is Friday, October 28th. This represents a $4.96 annualized dividend and a yield of 3.05%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.15. Texas Instruments’s dividend payout ratio (DPR) is 50.33%.
Texas Instruments declared that its board has authorized a share repurchase program on Thursday, September 15th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Texas Instruments news, Director Pamela H. Patsley sold 12,299 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $176.64, for a total transaction of $2,172,495.36. Following the transaction, the director now owns 32,088 shares in the company, valued at $5,668,024.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Texas Instruments news, VP Mark T. Roberts sold 2,048 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $177.50, for a total transaction of $363,520.00. Following the sale, the vice president now owns 28,475 shares of the company’s stock, valued at approximately $5,054,312.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela H. Patsley sold 12,299 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $176.64, for a total value of $2,172,495.36. Following the completion of the transaction, the director now directly owns 32,088 shares in the company, valued at $5,668,024.32. The disclosure for this sale can be found here. Insiders sold 57,415 shares of company stock valued at $10,241,311 in the last three months. Corporate insiders own 0.54% 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, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage supervisors, voltage references, and lighting products.
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