Cullinan Associates Inc. trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,086 shares of the semiconductor company’s stock after selling 1,577 shares during the quarter. Cullinan Associates Inc.’s holdings in Texas Instruments were worth $10,094,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kiley Juergens Wealth Management LLC bought a new stake in Texas Instruments in the second quarter valued at about $100,000. Centaurus Financial Inc. bought a new stake in Texas Instruments in the second quarter valued at about $101,000. Baker Ellis Asset Management LLC bought a new stake in Texas Instruments in the second quarter valued at about $105,000. Kwmg LLC bought a new stake in Texas Instruments in the second quarter valued at about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Texas Instruments in the third quarter valued at about $107,000. 84.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:TXN traded down $1.03 during trading on Friday, hitting $98.51. 671,926 shares of the company traded hands, compared to its average volume of 6,498,518. The firm has a market capitalization of $98.72 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Texas Instruments Incorporated has a one year low of $92.57 and a one year high of $120.75. The company has a current ratio of 6.54, a quick ratio of 5.12 and a debt-to-equity ratio of 0.48.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.03. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. Texas Instruments had a return on equity of 46.80% and a net margin of 28.08%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, analysts predict that Texas Instruments Incorporated will post 5.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a dividend yield of 3.13%. Texas Instruments’s payout ratio is currently 57.94%.
Texas Instruments declared that its Board of Directors has initiated a stock buyback program on Thursday, September 20th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 11.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several brokerages recently weighed in on TXN. Sanford C. Bernstein set a $130.00 price objective on Texas Instruments and gave the company a “buy” rating in a report on Wednesday, July 25th. B. Riley boosted their price objective on Texas Instruments from $115.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Atlantic Securities began coverage on Texas Instruments in a report on Tuesday, July 10th. They issued an “overweight” rating and a $130.00 price objective for the company. Zacks Investment Research lowered Texas Instruments from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 30th. Finally, BidaskClub lowered Texas Instruments from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Texas Instruments has a consensus rating of “Hold” and an average target price of $122.64.
In other news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the completion of the transaction, the insider now directly owns 131,153 shares in the company, valued at $14,630,117.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.
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.
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