First National Bank of Mount Dora Trust Investment Services lessened its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,000 shares of the semiconductor company’s stock after selling 2,347 shares during the period. Texas Instruments accounts for approximately 3.3% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 3rd biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Texas Instruments were worth $7,416,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC grew its stake in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 200 shares in the last quarter. MV Capital Management Inc. grew its stake in shares of Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 93 shares during the period. Acrospire Investment Management LLC grew its stake in shares of Texas Instruments by 55.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Texas Instruments in the 2nd quarter valued at approximately $112,000. Finally, Westside Investment Management Inc. grew its stake in shares of Texas Instruments by 6.9% in the 2nd quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 83.85% of the company’s stock.
In other Texas Instruments news, SVP Bing Xie sold 17,500 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the transaction, the senior vice president now directly owns 78,102 shares of the company’s stock, valued at approximately $7,539,186.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian T. Crutcher sold 68,687 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.10, for a total transaction of $6,600,820.70. Following the transaction, the chief operating officer now directly owns 346,428 shares in the company, valued at $33,291,730.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,293 shares of company stock worth $131,754,396 over the last quarter. 0.96% of the stock is owned by company insiders.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the business earned $0.94 EPS. Texas Instruments’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts predict that Texas Instruments Incorporated will post 4.36 earnings per share for the current fiscal year.
Texas Instruments declared that its Board of Directors has initiated a stock buyback program on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
TXN has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $112.00 price objective on shares of Texas Instruments in a research report on Thursday, January 4th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Morgan Stanley increased their price objective on shares of Texas Instruments from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. KeyCorp reaffirmed a “hold” rating on shares of Texas Instruments in a research report on Friday, November 24th. Finally, Loop Capital reaffirmed a “hold” rating and set a $102.00 price objective (up previously from $90.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $95.51.
About Texas Instruments
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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