Garrison Financial Corp reduced its position in Texas Instruments Incorporated (NASDAQ:TXN) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,390 shares of the semiconductor company’s stock after selling 3,975 shares during the quarter. Texas Instruments comprises about 2.5% of Garrison Financial Corp’s investment portfolio, making the stock its 7th biggest position. Garrison Financial Corp’s holdings in Texas Instruments were worth $4,977,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of The West grew its stake in shares of Texas Instruments by 4.6% during the second quarter. Bank of The West now owns 10,401 shares of the semiconductor company’s stock valued at $1,146,000 after acquiring an additional 453 shares in the last quarter. Buckley Wealth Management LLC grew its stake in shares of Texas Instruments by 3.5% during the second quarter. Buckley Wealth Management LLC now owns 13,732 shares of the semiconductor company’s stock valued at $1,514,000 after acquiring an additional 461 shares in the last quarter. D.B. Root & Company LLC grew its stake in shares of Texas Instruments by 8.9% during the second quarter. D.B. Root & Company LLC now owns 5,701 shares of the semiconductor company’s stock valued at $629,000 after acquiring an additional 466 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its stake in shares of Texas Instruments by 0.7% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 64,132 shares of the semiconductor company’s stock valued at $7,071,000 after acquiring an additional 474 shares in the last quarter. Finally, Northstar Investment Advisors LLC grew its stake in shares of Texas Instruments by 0.5% during the second quarter. Northstar Investment Advisors LLC now owns 96,683 shares of the semiconductor company’s stock valued at $10,657,000 after acquiring an additional 479 shares in the last quarter. 84.41% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on TXN. KeyCorp started coverage on Texas Instruments in a research note on Tuesday, September 25th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Longbow Research upgraded Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 11th. Atlantic Securities started coverage on Texas Instruments in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $130.00 price target for the company. Finally, Loop Capital decreased their price target on Texas Instruments to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $117.11.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. Texas Instruments’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. As a group, analysts anticipate that Texas Instruments Incorporated will post 5.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is 71.96%.
Texas Instruments announced that its board has authorized a share buyback plan on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other Texas Instruments news, Director Martin S. Craighead purchased 10,900 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were bought at an average price of $91.70 per share, with a total value of $999,530.00. Following the completion of the acquisition, the director now owns 13,100 shares in the company, valued at approximately $1,201,270. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total value of $1,512,272.00. Following the sale, the insider now directly owns 43,270 shares in the company, valued at approximately $4,067,380. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
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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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