First Midwest Bank Trust Division raised its stake in shares of Texas Instruments Inc. (NASDAQ:TXN) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 26,402 shares of the company’s stock after buying an additional 80 shares during the period. First Midwest Bank Trust Division’s holdings in Texas Instruments were worth $1,654,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TXN. Franklin Resources Inc. boosted its stake in Texas Instruments by 6.6% in the first quarter. Franklin Resources Inc. now owns 20,418,746 shares of the company’s stock worth $1,172,444,000 after buying an additional 1,259,788 shares in the last quarter. Bank of Montreal Can purchased a new stake in Texas Instruments during the second quarter worth approximately $69,198,000. Wellington Management Group LLP boosted its stake in Texas Instruments by 9.4% in the first quarter. Wellington Management Group LLP now owns 11,114,717 shares of the company’s stock worth $638,208,000 after buying an additional 953,224 shares in the last quarter. Nordea Investment Management AB boosted its stake in Texas Instruments by 173.8% in the second quarter. Nordea Investment Management AB now owns 1,274,282 shares of the company’s stock worth $79,834,000 after buying an additional 808,795 shares in the last quarter. Finally, Ruffer LLP boosted its stake in Texas Instruments by 145.3% in the first quarter. Ruffer LLP now owns 894,044 shares of the company’s stock worth $51,331,000 after buying an additional 529,534 shares in the last quarter. Institutional investors own 86.89% of the company’s stock.
Shares of Texas Instruments Inc. (NASDAQ:TXN) traded up 0.14% during trading on Thursday, hitting $69.84. 4,337,901 shares of the stock were exchanged. Texas Instruments Inc. has a 52 week low of $46.73 and a 52 week high of $72.58. The firm has a market capitalization of $70.06 billion, a price-to-earnings ratio of 23.53 and a beta of 1.19. The stock’s 50 day moving average price is $69.40 and its 200 day moving average price is $63.11.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Monday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Texas Instruments had a net margin of 23.89% and a return on equity of 30.14%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Texas Instruments Inc. will post $3.06 earnings per share for the current year.
A number of analysts recently commented on TXN shares. Royal Bank Of Canada lowered their price objective on shares of Texas Instruments from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. RBC Capital Markets restated an “outperform” rating and issued a $80.00 price objective on shares of Texas Instruments in a research report on Tuesday, August 30th. Sanford C. Bernstein upgraded shares of Texas Instruments from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $80.00 in a research report on Monday, September 12th. Bank of America Corp. raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, July 26th. Finally, Zacks Investment Research cut Texas Instruments from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Two equities research 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 currently has an average rating of “Hold” and an average price target of $68.44.
In other Texas Instruments news, insider Stephen A. Anderson sold 103,125 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $70.08, for a total value of $7,227,000.00. Following the sale, the insider now owns 292,446 shares of the company’s stock, valued at approximately $20,494,615.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cynthia Hoff Trochu sold 20,506 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $70.65, for a total transaction of $1,448,748.90. Following the completion of the sale, the senior vice president now directly owns 61,150 shares in the company, valued at approximately $4,320,247.50. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
Texas Instruments Company 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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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