Griffin Asset Management Inc. trimmed its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 1.3% in the 1st quarter, Holdings Channel reports. The firm owned 7,395 shares of the semiconductor company’s stock after selling 100 shares during the period. Griffin Asset Management Inc.’s holdings in Texas Instruments were worth $784,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TXN. Green Square Capital LLC bought a new stake in shares of Texas Instruments during the 4th quarter worth approximately $1,354,000. Bahl & Gaynor Inc. lifted its stake in shares of Texas Instruments by 47.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 2,794,033 shares of the semiconductor company’s stock worth $264,036,000 after acquiring an additional 904,477 shares during the last quarter. Wedbush Securities Inc. lifted its stake in shares of Texas Instruments by 1.2% during the 4th quarter. Wedbush Securities Inc. now owns 8,874 shares of the semiconductor company’s stock worth $839,000 after acquiring an additional 105 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Texas Instruments during the 1st quarter worth approximately $5,100,000. Finally, Bessemer Group Inc. lifted its stake in shares of Texas Instruments by 25.3% during the 4th quarter. Bessemer Group Inc. now owns 2,782,405 shares of the semiconductor company’s stock worth $262,938,000 after acquiring an additional 561,160 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.
In other news, Director Carrie Smith Cox sold 17,002 shares of Texas Instruments stock in a transaction on Monday, April 29th. The stock was sold at an average price of $116.08, for a total value of $1,973,592.16. Following the transaction, the director now directly owns 40,299 shares in the company, valued at approximately $4,677,907.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Niels Anderskouv sold 53,075 shares of Texas Instruments stock in a transaction on Monday, April 29th. The shares were sold at an average price of $116.86, for a total value of $6,202,344.50. Following the completion of the transaction, the vice president now owns 138,317 shares in the company, valued at $16,163,724.62. The disclosure for this sale can be found here. Insiders have sold a total of 879,332 shares of company stock worth $103,024,864 over the last 90 days. 0.89% of the stock is currently owned by company insiders.
A number of equities research analysts recently issued reports on the company. Longbow Research lowered Texas Instruments from a “buy” rating to a “neutral” rating and set a $116.20 price target for the company. in a research note on Wednesday, April 17th. Nomura assumed coverage on Texas Instruments in a research note on Tuesday, May 7th. They set a “neutral” rating and a $106.00 price target for the company. SunTrust Banks raised their price target on Texas Instruments from $93.00 to $103.00 and gave the stock a “hold” rating in a research note on Thursday, January 24th. Robert W. Baird reissued a “hold” rating and set a $97.00 price target on shares of Texas Instruments in a research note on Tuesday, February 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $120.00 price target on shares of Texas Instruments in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $111.18.
TXN opened at $105.83 on Friday. The firm has a market cap of $100.39 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.05 and a beta of 1.20. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $119.32. The company has a current ratio of 3.68, a quick ratio of 2.70 and a debt-to-equity ratio of 0.59.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.48 billion. Texas Instruments had a return on equity of 55.48% and a net margin of 34.84%. Texas Instruments’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. On average, equities research analysts forecast that Texas Instruments Incorporated will post 5.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.08 annualized dividend and a yield of 2.91%. Texas Instruments’s payout ratio is currently 56.83%.
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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, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
Further Reading: Options Trading – Understanding Strike Price
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