Oregon Public Employees Retirement Fund increased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 355,285 shares of the semiconductor company’s stock after purchasing an additional 2,477 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Texas Instruments were worth $38,119,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXN. Bridgeworth LLC raised its holdings in Texas Instruments by 28.7% in the 2nd quarter. Bridgeworth LLC now owns 3,064 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 683 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in Texas Instruments by 1.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 316,213 shares of the semiconductor company’s stock valued at $34,862,000 after acquiring an additional 4,665 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in Texas Instruments by 9.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 10,190 shares of the semiconductor company’s stock valued at $1,123,000 after acquiring an additional 906 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Texas Instruments by 14.1% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,461,000 shares of the semiconductor company’s stock valued at $161,075,000 after acquiring an additional 179,993 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Texas Instruments during the 2nd quarter worth approximately $44,998,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
TXN has been the subject of a number of recent analyst reports. Atlantic Securities initiated coverage on shares of Texas Instruments in a report on Tuesday, July 10th. They set an “overweight” rating and a $130.00 price target for the company. Longbow Research upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating in a report on Wednesday, July 11th. Royal Bank of Canada raised their price target on shares of Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Thursday, July 19th. Finally, Mizuho restated a “hold” rating on shares of Texas Instruments in a report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $117.11.
Shares of TXN stock opened at $94.03 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09. Texas Instruments Incorporated has a 52 week low of $87.90 and a 52 week high of $120.75. The company has a market capitalization of $88.04 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.05. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company posted $1.26 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast 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. Shareholders of record on Wednesday, October 31st will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.28%. 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 dividend payout ratio (DPR) is currently 57.94%.
Texas Instruments declared that its Board of Directors has approved a stock buyback plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
About Texas Instruments
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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