Westport Asset Management Inc. bought a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,062 shares of the company’s stock, valued at approximately $734,000.
A number of other hedge funds have also recently modified their holdings of TXN. Norges Bank purchased a new stake in shares of Texas Instruments during the fourth quarter worth approximately $717,638,000. Jarislowsky Fraser Ltd bought a new position in Texas Instruments during the fourth quarter worth about $205,000. Numeric Investors LLC bought a new position in Texas Instruments during the fourth quarter worth about $219,000. Westwood Holdings Group Inc. increased its position in Texas Instruments by 5.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,342,532 shares of the company’s stock worth $97,965,000 after buying an additional 73,396 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in Texas Instruments during the fourth quarter worth about $936,000. 86.21% of the stock is owned by institutional investors and hedge funds.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 81.59 on Tuesday. Texas Instruments Incorporated has a one year low of $56.08 and a one year high of $82.44. The firm’s 50-day moving average is $77.69 and its 200-day moving average is $73.05. The company has a market cap of $81.56 billion, a PE ratio of 23.46 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.20. Texas Instruments had a net margin of 25.89% and a return on equity of 32.78%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Texas Instruments Incorporated will post $3.67 EPS for the current year.
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TXN has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price target on Texas Instruments from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Summit Redstone reiterated a “buy” rating and set a $84.00 price target on shares of Texas Instruments in a research note on Thursday, December 29th. Vetr downgraded Texas Instruments from a “strong-buy” rating to a “buy” rating and set a $89.16 price target for the company. in a research note on Monday, March 13th. Zacks Investment Research downgraded Texas Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. Finally, Credit Suisse Group AG upgraded Texas Instruments from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $77.00 to $95.00 in a research note on Monday, January 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $78.89.
In other news, insider Stephen A. Anderson sold 34,375 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $78.96, for a total transaction of $2,714,250.00. Following the sale, the insider now owns 209,508 shares in the company, valued at $16,542,751.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Brian T. Crutcher sold 42,550 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $76.27, for a total transaction of $3,245,288.50. Following the sale, the chief operating officer now owns 201,284 shares in the company, valued at approximately $15,351,930.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 959,393 shares of company stock worth $74,927,396. Corporate insiders own 1.02% of the company’s stock.
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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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