112,941 Texas Instruments Incorporated $TXN Shares Purchased by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama increased its Texas Instruments stake by 33.1%, buying 112,941 shares in the third quarter to hold 453,937 shares valued at about $127.1 million.
• Texas Instruments beat quarterly earnings and revenue estimates: EPS was $2.62 versus $2.40 expected, while revenue reached $6.05 billion, up 27.7% year over year. The company also raised its quarterly dividend from $1.42 to $1.52 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $315.37; meanwhile, company insiders sold 27,968 shares worth about $8.2 million in the last quarter.

Retirement Systems of Alabama increased its holdings in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,937 shares of the semiconductor company's stock after acquiring an additional 112,941 shares during the quarter. Retirement Systems of Alabama's holdings in Texas Instruments were worth $127,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Kraft Davis & Associates LLC increased its stake in shares of Texas Instruments by 4.4% during the third quarter. Kraft Davis & Associates LLC now owns 827 shares of the semiconductor company's stock valued at $230,000 after purchasing an additional 35 shares in the last quarter. May Hill Capital LLC lifted its holdings in shares of Texas Instruments by 3.7% during the third quarter. May Hill Capital LLC now owns 990 shares of the semiconductor company's stock valued at $277,000 after purchasing an additional 35 shares during the last quarter. Aviance Capital Partners LLC lifted its holdings in shares of Texas Instruments by 1.0% during the third quarter. Aviance Capital Partners LLC now owns 3,754 shares of the semiconductor company's stock valued at $1,052,000 after purchasing an additional 36 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Texas Instruments by 1.2% in the 3rd quarter. International Assets Investment Management LLC now owns 2,947 shares of the semiconductor company's stock worth $829,000 after purchasing an additional 36 shares in the last quarter. Finally, HBW Advisory Services LLC boosted its position in shares of Texas Instruments by 2.2% in the 1st quarter. HBW Advisory Services LLC now owns 1,730 shares of the semiconductor company's stock worth $336,000 after purchasing an additional 37 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Texas Instruments news, Director Janet Clark sold 4,306 shares of the business's stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $302.46, for a total value of $1,302,392.76. Following the completion of the transaction, the director owned 11,341 shares of the company's stock, valued at approximately $3,430,198.86. The trade was a 27.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela Patsley sold 4,532 shares of the company's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $301.56, for a total transaction of $1,366,669.92. Following the transaction, the director owned 34,487 shares in the company, valued at $10,399,899.72. This represents a 11.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,968 shares of company stock worth $8,236,892 in the last quarter. Insiders own 0.60% of the company's stock.

Texas Instruments Stock Performance

Shares of TXN opened at $295.73 on Tuesday. The company has a market cap of $270.23 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 1.54 and a beta of 1.39. The business's fifty day simple moving average is $279.80 and its two-hundred day simple moving average is $261.92. Texas Instruments Incorporated has a 12 month low of $152.73 and a 12 month high of $334.03. The company has a current ratio of 5.59, a quick ratio of 4.05 and a debt-to-equity ratio of 0.67.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.22. The firm had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.94 billion. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The company's revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. Research analysts anticipate that Texas Instruments Incorporated will post 8.97 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 30th will be issued a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, October 30th. This is a positive change from Texas Instruments's previous quarterly dividend of $1.42. Texas Instruments's dividend payout ratio is 78.86%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TXN. Mizuho cut their price target on Texas Instruments from $305.00 to $290.00 and set a "neutral" rating on the stock in a research note on Thursday, October 22nd. Wells Fargo & Company lowered their price objective on Texas Instruments from $310.00 to $300.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 20th. Zacks Research raised Texas Instruments from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 22nd. UBS Group dropped their target price on Texas Instruments from $380.00 to $360.00 and set a "buy" rating on the stock in a report on Thursday, October 22nd. Finally, Benchmark increased their target price on Texas Instruments from $315.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Texas Instruments has a consensus rating of "Moderate Buy" and an average price target of $315.37.

About Texas Instruments

Texas Instruments Incorporated NASDAQ: TXN designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.

The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.

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