Essex Savings Bank Buys New Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Essex Savings Bank bought a new stake in Texas Instruments Incorporated (NASDAQ:TXN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,655 shares of the semiconductor company’s stock, valued at approximately $210,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Texas Instruments by 0.8% during the first quarter. BlackRock Inc. now owns 69,820,163 shares of the semiconductor company’s stock worth $6,977,130,000 after purchasing an additional 535,667 shares during the last quarter. State Street Corp raised its holdings in shares of Texas Instruments by 1.9% in the first quarter. State Street Corp now owns 40,874,487 shares of the semiconductor company’s stock valued at $4,084,587,000 after acquiring an additional 770,202 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Texas Instruments by 115.6% in the first quarter. Wellington Management Group LLP now owns 21,559,378 shares of the semiconductor company’s stock valued at $2,154,430,000 after acquiring an additional 11,560,600 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Texas Instruments by 1.3% in the first quarter. Geode Capital Management LLC now owns 15,754,611 shares of the semiconductor company’s stock valued at $1,572,007,000 after acquiring an additional 205,466 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Texas Instruments by 30.4% in the first quarter. Bank of New York Mellon Corp now owns 14,416,637 shares of the semiconductor company’s stock valued at $1,440,655,000 after acquiring an additional 3,357,505 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

TXN stock traded down $1.34 during mid-day trading on Friday, reaching $127.55. The company had a trading volume of 8,044,132 shares, compared to its average volume of 4,561,689. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.94 and a current ratio of 3.92. The company has a market capitalization of $117.06 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. The firm has a fifty day simple moving average of $128.12 and a 200 day simple moving average of $119.70. Texas Instruments Incorporated has a fifty-two week low of $93.09 and a fifty-two week high of $137.65.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 21st. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.60. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $2.96 billion. Texas Instruments had a return on equity of 60.61% and a net margin of 36.83%. During the same quarter last year, the company earned $1.36 EPS. As a group, analysts predict that Texas Instruments Incorporated will post 5.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be paid a $0.90 dividend. The ex-dividend date is Thursday, July 30th. This represents a $3.60 annualized dividend and a dividend yield of 2.82%. Texas Instruments’s dividend payout ratio (DPR) is currently 68.70%.

Several research firms recently weighed in on TXN. Longbow Research started coverage on Texas Instruments in a report on Wednesday, April 22nd. They issued a “neutral” rating for the company. Jefferies Financial Group lifted their target price on Texas Instruments from $136.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. UBS Group lifted their target price on Texas Instruments from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. SunTrust Banks lifted their target price on Texas Instruments from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Finally, Charter Equity upgraded Texas Instruments from a “market perform” rating to a “market outperform” rating in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $134.00.

In other Texas Instruments news, VP Ahmad Bahai sold 3,185 shares of Texas Instruments stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $115.57, for a total value of $368,090.45. Following the transaction, the vice president now directly owns 27,168 shares in the company, valued at approximately $3,139,805.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela H. Patsley sold 12,156 shares of Texas Instruments stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $132.18, for a total value of $1,606,780.08. Following the completion of the transaction, the director now owns 43,082 shares in the company, valued at $5,694,578.76. The disclosure for this sale can be found here. Insiders sold a total of 122,396 shares of company stock worth $15,983,413 over the last quarter. Company insiders own 0.73% of the company’s stock.

About Texas Instruments

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.

Featured Article: Why are percentage decliners important?

Want to see what other hedge funds are holding TXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Instruments Incorporated (NASDAQ:TXN).

Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

Receive News & Ratings for Texas Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News