Olstein Capital Management L.P. decreased its position in Texas Instruments Incorporated (NASDAQ:TXN) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,800 shares of the semiconductor company’s stock after selling 4,200 shares during the period. Olstein Capital Management L.P.’s holdings in Texas Instruments were worth $6,979,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kendall Capital Management bought a new position in shares of Texas Instruments in the first quarter valued at approximately $236,000. Alpha Quant Advisors LLC boosted its holdings in shares of Texas Instruments by 3.9% in the first quarter. Alpha Quant Advisors LLC now owns 5,623 shares of the semiconductor company’s stock valued at $597,000 after acquiring an additional 212 shares in the last quarter. National Asset Management Inc. boosted its holdings in shares of Texas Instruments by 3.7% in the first quarter. National Asset Management Inc. now owns 14,350 shares of the semiconductor company’s stock valued at $1,524,000 after acquiring an additional 507 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Texas Instruments by 22.2% in the first quarter. Greenleaf Trust now owns 13,146 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 2,389 shares in the last quarter. Finally, Abbrea Capital LLC bought a new position in shares of Texas Instruments in the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Nomura began coverage on shares of Texas Instruments in a research note on Tuesday, May 7th. They set a “neutral” rating and a $106.00 target price for the company. Wells Fargo & Co cut their target price on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $124.00 target price on shares of Texas Instruments in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $111.18.
Shares of NASDAQ:TXN opened at $105.06 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.68 and a quick ratio of 2.70. The company has a market capitalization of $98.57 billion, a P/E ratio of 19.38, 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.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.09. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.48 billion. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. On average, research analysts expect that Texas Instruments Incorporated will post 5.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a $0.77 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.93%. Texas Instruments’s dividend payout ratio (DPR) is presently 56.83%.
In related news, Chairman Richard K. Templeton sold 475,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $117.38, for a total value of $55,755,500.00. Following the completion of the sale, the chairman now owns 930,287 shares in the company, valued at approximately $109,197,088.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bing Xie sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $116.75, for a total transaction of $2,335,000.00. Following the completion of the transaction, the insider now owns 53,934 shares in the company, valued at approximately $6,296,794.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 879,332 shares of company stock valued at $103,024,864. 0.89% of the stock is owned by insiders.
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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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