CIBC World Markets Inc. Reduces Stake in Texas Instruments Incorporated (TXN)

CIBC World Markets Inc. cut its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 16.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,865 shares of the semiconductor company’s stock after selling 41,380 shares during the period. CIBC World Markets Inc.’s holdings in Texas Instruments were worth $22,624,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BBT Capital Management LLC bought a new stake in Texas Instruments during the third quarter valued at about $1,087,000. San Francisco Sentry Investment Group CA boosted its holdings in Texas Instruments by 12.9% during the third quarter. San Francisco Sentry Investment Group CA now owns 8,155 shares of the semiconductor company’s stock valued at $875,000 after acquiring an additional 931 shares during the period. Johnson Financial Group Inc. boosted its holdings in Texas Instruments by 162.2% during the third quarter. Johnson Financial Group Inc. now owns 10,539 shares of the semiconductor company’s stock valued at $1,131,000 after acquiring an additional 6,520 shares during the period. Vantage Investment Advisors LLC boosted its holdings in Texas Instruments by 17,842.9% during the third quarter. Vantage Investment Advisors LLC now owns 43,960 shares of the semiconductor company’s stock valued at $4,688,000 after acquiring an additional 43,715 shares during the period. Finally, CI Investments Inc. bought a new stake in Texas Instruments during the third quarter valued at about $28,021,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.

In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of the firm’s 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 transaction, the insider now directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martin S. Craighead acquired 10,900 shares of Texas Instruments stock in a transaction on Thursday, October 25th. The stock was acquired at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the completion of the purchase, the director now owns 13,100 shares of the company’s stock, valued at approximately $1,201,270. The disclosure for this purchase can be found here. Company insiders own 0.84% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Sanford C. Bernstein restated a “buy” rating and set a $115.00 price target on shares of Texas Instruments in a report on Wednesday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of Texas Instruments from $134.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. BidaskClub cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, Loop Capital reduced their target price on shares of Texas Instruments to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Two equities 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 company. Texas Instruments currently has an average rating of “Hold” and an average price target of $117.11.

Shares of Texas Instruments stock opened at $96.13 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09. The company has a market capitalization of $93.02 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.88 and a beta of 1.28. Texas Instruments Incorporated has a fifty-two week low of $87.90 and a fifty-two week high of $120.75.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. Equities analysts predict that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.

Texas Instruments declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Wednesday, October 31st were issued a $0.77 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio (DPR) is currently 71.96%.

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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.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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