United Services Automobile Association cut its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 8.9% during the first quarter, Holdings Channel reports. The institutional investor owned 1,965,658 shares of the semiconductor company’s stock after selling 191,079 shares during the period. United Services Automobile Association’s holdings in Texas Instruments were worth $158,353,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC raised its position in Texas Instruments by 4.9% in the first quarter. Manning & Napier Advisors LLC now owns 155,157 shares of the semiconductor company’s stock worth $12,498,000 after buying an additional 7,293 shares during the period. CENTRAL TRUST Co raised its position in Texas Instruments by 0.3% in the first quarter. CENTRAL TRUST Co now owns 33,608 shares of the semiconductor company’s stock worth $2,707,000 after buying an additional 90 shares during the period. Rathbone Brothers plc acquired a new position in Texas Instruments during the first quarter worth $362,000. Chevy Chase Trust Holdings Inc. raised its position in Texas Instruments by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 867,938 shares of the semiconductor company’s stock worth $69,921,000 after buying an additional 26,948 shares during the period. Finally, Beacon Financial Group raised its position in Texas Instruments by 6.2% in the first quarter. Beacon Financial Group now owns 20,089 shares of the semiconductor company’s stock worth $1,628,000 after buying an additional 1,180 shares during the period. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
Texas Instruments Incorporated (NASDAQ:TXN) opened at 81.70 on Friday. Texas Instruments Incorporated has a 1-year low of $64.74 and a 1-year high of $84.65. The firm has a market cap of $81.40 billion, a P/E ratio of 21.74 and a beta of 1.20. The firm has a 50 day moving average of $80.06 and a 200 day moving average of $78.92.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, April 25th. The semiconductor company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.31 billion. Texas Instruments had a net margin of 27.54% and a return on equity of 34.50%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. On average, equities research analysts expect that Texas Instruments Incorporated will post $3.93 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, July 27th. Texas Instruments’s payout ratio is 54.20%.
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A number of research firms have weighed in on TXN. Barclays PLC raised their target price on shares of Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Cowen and Company reissued a “hold” rating and issued a $82.00 target price on shares of Texas Instruments in a research note on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a research note on Monday, July 10th. Finally, Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Texas Instruments in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $82.42.
In related news, insider Niels Anderskouv sold 134,360 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.42, for a total transaction of $10,805,231.20. Following the completion of the sale, the insider now directly owns 132,079 shares of the company’s stock, valued at approximately $10,621,793.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela H. Patsley sold 7,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $80.55, for a total transaction of $563,850.00. Following the sale, the director now directly owns 35,296 shares of the company’s stock, valued at $2,843,092.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 323,780 shares of company stock valued at $26,093,457. Company insiders own 0.96% of the company’s stock.
Texas Instruments Company Profile
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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