Hendley & Co. Inc. bought a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the first quarter, Holdings Channel reports. The fund bought 47,620 shares of the semiconductor company’s stock, valued at approximately $3,836,000. Texas Instruments comprises about 2.3% of Hendley & Co. Inc.’s investment portfolio, making the stock its 17th largest position.
Other large investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new stake in Texas Instruments during the first quarter valued at $101,000. ClariVest Asset Management LLC boosted its stake in Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. Balentine LLC boosted its stake in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 80 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Texas Instruments by 33.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 333 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in Texas Instruments by 9.1% in the first quarter. Westside Investment Management Inc. now owns 1,452 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 84.71% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) traded up 0.40% during trading on Wednesday, reaching $82.28. 926,375 shares of the company’s stock were exchanged. Texas Instruments Incorporated has a 52-week low of $66.30 and a 52-week high of $84.65. The stock’s 50 day moving average price is $80.42 and its 200-day moving average price is $79.74. The stock has a market cap of $81.46 billion, a PE ratio of 20.58 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, July 27th. Texas Instruments’s dividend payout ratio (DPR) is currently 50.51%.
A number of brokerages have commented on TXN. Drexel Hamilton restated a “buy” rating and set a $93.00 price target on shares of Texas Instruments in a research note on Wednesday, April 26th. Royal Bank Of Canada raised their price target on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Instinet restated a “neutral” rating and set a $75.00 price target (up previously from $70.00) on shares of Texas Instruments in a research note on Saturday, April 29th. UBS AG restated a “buy” rating and set a $93.00 price target (up previously from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Finally, Loop Capital restated a “hold” rating and set a $84.00 price target (up previously from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Texas Instruments presently has an average rating of “Buy” and a consensus price target of $85.96.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the transaction, the director now directly owns 38,435 shares in the company, valued at approximately $3,161,278.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the completion of the transaction, the chief operating officer now owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,301 shares of company stock valued at $17,259,256. Corporate insiders own 0.96% of the company’s stock.
About Texas Instruments
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.
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