Kornitzer Capital Management Inc. KS grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 138.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,380 shares of the semiconductor company’s stock after purchasing an additional 9,520 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Texas Instruments were worth $1,757,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridgeworth LLC raised its holdings in Texas Instruments by 28.7% in the second quarter. Bridgeworth LLC now owns 3,064 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 683 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Texas Instruments by 9.8% in the second 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 in the last quarter. Lourd Capital LLC acquired a new stake in Texas Instruments in the third quarter valued at approximately $299,000. Bessemer Group Inc. raised its holdings in Texas Instruments by 1.1% in the third quarter. Bessemer Group Inc. now owns 2,221,245 shares of the semiconductor company’s stock valued at $238,317,000 after acquiring an additional 23,781 shares in the last quarter. Finally, First Manhattan Co. raised its holdings in Texas Instruments by 50.4% in the third quarter. First Manhattan Co. now owns 52,545 shares of the semiconductor company’s stock valued at $5,637,000 after acquiring an additional 17,597 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on TXN shares. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. UBS Group cut their price objective on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating on the stock in a report on Wednesday, October 24th. Macquarie set a $100.00 price objective on shares of Texas Instruments and gave the stock a “hold” rating in a report on Wednesday, October 24th. Nomura cut their price objective on shares of Texas Instruments from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Finally, Royal Bank of Canada cut their price objective on shares of Texas Instruments to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $117.11.
In other Texas Instruments news, Director Martin S. Craighead bought 10,900 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were acquired at an average cost of $91.70 per share, with a total value of $999,530.00. Following the acquisition, the director now directly owns 13,100 shares of the company’s stock, valued at approximately $1,201,270. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total transaction of $1,512,272.00. Following the completion of the transaction, the insider now directly owns 43,270 shares in the company, valued at $4,067,380. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
Shares of Texas Instruments stock opened at $96.11 on Thursday. The firm has a market capitalization of $95.91 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.97 and a beta of 1.29. Texas Instruments Incorporated has a 12 month low of $87.90 and a 12 month high of $120.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business 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%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. As a group, equities research analysts expect that Texas Instruments Incorporated will post 5.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.20%. 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 presently 71.96%.
Texas Instruments declared that its Board of Directors has approved 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 often a sign that the company’s board of directors believes its stock is undervalued.
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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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