Westfield Capital Management Co. LP Acquires Shares of 77,120 Texas Instruments Incorporated (TXN)

Westfield Capital Management Co. LP bought a new stake in Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 77,120 shares of the semiconductor company’s stock, valued at approximately $6,913,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BerganKDV Wealth Management LLC raised its stake in Texas Instruments by 53.3% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock worth $1,079,000 after purchasing an additional 4,182 shares in the last quarter. Ingalls & Snyder LLC raised its position in shares of Texas Instruments by 9.6% in the 3rd quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock valued at $1,129,000 after buying an additional 1,100 shares in the last quarter. PGGM Investments raised its position in shares of Texas Instruments by 102.8% in the 3rd quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock valued at $85,751,000 after buying an additional 484,906 shares in the last quarter. Sather Financial Group Inc acquired a new position in shares of Texas Instruments in the 2nd quarter valued at approximately $600,000. Finally, Legal & General Group Plc raised its position in shares of Texas Instruments by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock valued at $391,499,000 after buying an additional 73,740 shares in the last quarter. 83.82% of the stock is owned by institutional investors.

In related news, CEO Richard K. Templeton sold 190,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the sale, the chief executive officer now owns 1,137,056 shares of the company’s stock, valued at $110,157,985.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the sale, the insider now owns 189,234 shares of the company’s stock, valued at $18,438,960.96. The disclosure for this sale can be found here. Insiders sold a total of 1,362,293 shares of company stock valued at $131,754,396 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Robert W. Baird upped their price objective on shares of Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Deutsche Bank upped their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley boosted their target price on shares of Texas Instruments from $88.00 to $92.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Texas Instruments has an average rating of “Buy” and an average target price of $95.06.

Shares of Texas Instruments Incorporated (NASDAQ TXN) traded down $0.38 during trading hours on Friday, reaching $104.44. The company’s stock had a trading volume of 2,812,925 shares, compared to its average volume of 4,649,357. The stock has a market cap of $103,306.45, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.50 and a beta of 1.27. Texas Instruments Incorporated has a fifty-two week low of $72.47 and a fifty-two week high of $105.33. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. sell-side analysts anticipate that Texas Instruments Incorporated will post 4.36 EPS for the current year.

Texas Instruments declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Texas Instruments Profile

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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.

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

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