ING Groep NV lowered its stake in shares of Texas Instruments Inc. (NASDAQ:TXN) by 44.8% during the second quarter, Holdings Channel reports. The firm owned 59,541 shares of the company’s stock after selling 48,403 shares during the period. ING Groep NV’s holdings in Texas Instruments were worth $3,730,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JNBA Financial Advisors raised its stake in Texas Instruments by 285.7% in the second quarter. JNBA Financial Advisors now owns 2,700 shares of the company’s stock valued at $169,000 after buying an additional 2,000 shares in the last quarter. TNB Financial acquired a new stake in Texas Instruments during the second quarter valued at about $202,000. Trust Co. of Toledo NA OH acquired a new stake in Texas Instruments during the second quarter valued at about $205,000. iAB Financial Bank acquired a new stake in Texas Instruments during the second quarter valued at about $210,000. Finally, Trust Co. of Oklahoma acquired a new stake in Texas Instruments during the second quarter valued at about $213,000. 86.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Texas Instruments Inc. (NASDAQ:TXN) traded down 0.10% during trading on Tuesday, hitting $69.59. The stock had a trading volume of 4,089,515 shares. The stock has a 50 day moving average of $69.38 and a 200 day moving average of $63.51. The firm has a market cap of $69.81 billion, a PE ratio of 23.45 and a beta of 1.32. Texas Instruments Inc. has a 52-week low of $46.73 and a 52-week high of $72.58.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Monday, July 25th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The company earned $3.27 billion during the quarter, compared to analyst estimates of $3.20 billion. Texas Instruments had a net margin of 23.89% and a return on equity of 30.14%. Texas Instruments’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities analysts anticipate that Texas Instruments Inc. will post $3.06 EPS for the current year.
A number of equities analysts have recently weighed in on the company. B. Riley upgraded Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Friday. Robert W. Baird upgraded Texas Instruments from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $80.00 in a research note on Wednesday, September 14th. Sanford C. Bernstein upgraded Texas Instruments from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $80.00 in a research note on Monday, September 12th. RBC Capital Markets reiterated an “outperform” rating and set a $80.00 target price on shares of Texas Instruments in a research note on Tuesday, August 30th. Finally, Royal Bank Of Canada increased their target price on Texas Instruments from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have issued a buy rating to the stock. Texas Instruments has a consensus rating of “Hold” and an average target price of $68.44.
In related news, insider Stephen A. Anderson sold 103,125 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 292,446 shares of the company’s stock, valued at $20,494,615.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian T. Crutcher sold 180,528 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $70.53, for a total transaction of $12,732,639.84. Following the completion of the transaction, the insider now directly owns 504,689 shares of the company’s stock, valued at $35,595,715.17. The disclosure for this sale can be found here. Insiders own 1.02% 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. 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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