Vaughan Nelson Investment Management L.P. reduced its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 6.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 683,788 shares of the semiconductor company’s stock after selling 43,515 shares during the period. Texas Instruments comprises approximately 0.9% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 26th biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in Texas Instruments were worth $73,364,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of TXN. Ffcm LLC grew its stake in shares of Texas Instruments by 2,210.4% in the 3rd quarter. Ffcm LLC now owns 2,748,719 shares of the semiconductor company’s stock worth $5,589,000 after buying an additional 2,629,746 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Texas Instruments in the 2nd quarter worth $282,741,000. FMR LLC grew its stake in shares of Texas Instruments by 19.7% in the 2nd quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock worth $1,423,082,000 after buying an additional 2,120,260 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Texas Instruments by 39.1% in the 2nd quarter. Schroder Investment Management Group now owns 3,278,298 shares of the semiconductor company’s stock worth $357,662,000 after buying an additional 921,101 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Texas Instruments by 3.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,763,599 shares of the semiconductor company’s stock worth $2,549,597,000 after buying an additional 811,931 shares in the last quarter. 85.51% of the stock is owned by institutional investors and hedge funds.
In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 43,270 shares of the company’s stock, valued at approximately $4,067,380. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin S. Craighead acquired 10,900 shares of the stock in a transaction on Thursday, October 25th. The stock was bought at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the transaction, the director now owns 13,100 shares in the company, valued at $1,201,270. The disclosure for this purchase can be found here. 0.84% of the stock is owned by insiders.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $4.26 billion during 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%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. As a group, research analysts expect that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.
Texas Instruments announced that its board has approved a stock repurchase plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.24%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date was Tuesday, October 30th. Texas Instruments’s payout ratio is 71.96%.
A number of equities analysts recently commented on the stock. UBS Group dropped their price target on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating for the company in a research note on Wednesday, October 24th. BidaskClub cut shares of Texas Instruments from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Zacks Investment Research cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. BMO Capital Markets dropped their price target on shares of Texas Instruments from $138.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Finally, ValuEngine cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. Texas Instruments has a consensus rating of “Hold” and a consensus target price of $117.11.
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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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