SRB Corp grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 11.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,684 shares of the semiconductor company’s stock after purchasing an additional 702 shares during the quarter. SRB Corp’s holdings in Texas Instruments were worth $709,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Clarius Group LLC increased its holdings in shares of Texas Instruments by 111.5% in the 1st quarter. Clarius Group LLC now owns 6,165 shares of the semiconductor company’s stock valued at $654,000 after acquiring an additional 3,250 shares during the period. GYL Financial Synergies LLC acquired a new position in shares of Texas Instruments in the 1st quarter valued at $1,297,000. Riverhead Capital Management LLC increased its holdings in shares of Texas Instruments by 15.7% in the 1st quarter. Riverhead Capital Management LLC now owns 118,210 shares of the semiconductor company’s stock valued at $12,539,000 after acquiring an additional 16,039 shares during the period. Andra AP fonden acquired a new position in shares of Texas Instruments in the 1st quarter valued at $4,922,000. Finally, GWM Advisors LLC increased its holdings in shares of Texas Instruments by 10.2% in the 1st quarter. GWM Advisors LLC now owns 133,619 shares of the semiconductor company’s stock valued at $14,173,000 after acquiring an additional 12,321 shares during the period. 85.38% of the stock is owned by institutional investors and hedge funds.
In related news, Director Carrie Smith Cox sold 17,002 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $116.08, for a total value of $1,973,592.16. Following the sale, the director now directly owns 40,299 shares in the company, valued at approximately $4,677,907.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard K. Templeton sold 160,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $116.77, for a total transaction of $18,683,200.00. Following the completion of the sale, the chief executive officer now owns 930,287 shares in the company, valued at $108,629,612.99. The disclosure for this sale can be found here. Insiders have sold 879,332 shares of company stock worth $103,024,864 over the last 90 days. 0.89% of the stock is currently owned by company insiders.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.09. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm posted $1.35 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that Texas Instruments Incorporated will post 5.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were given a dividend of $0.77 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.08 annualized dividend and a yield of 2.85%. Texas Instruments’s payout ratio is currently 56.83%.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Saturday, June 1st. Bank of America reaffirmed a “neutral” rating and issued a $122.00 target price (up from $114.00) on shares of Texas Instruments in a report on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Texas Instruments from $97.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $130.00 target price on shares of Texas Instruments in a report on Wednesday, April 24th. Finally, Loop Capital boosted their price objective on shares of Texas Instruments to $126.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $111.18.
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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