Texas Instruments Incorporated $TXN Shares Bought by AlphaCore Capital LLC

Key Points

• AlphaCore Capital increased its Texas Instruments stake by 315.8% in the third quarter, adding 31,864 shares to bring its holdings to 41,955 shares, valued at about $11.8 million.
• Texas Instruments reported quarterly EPS of $2.62 and revenue of $6.05 billion, beating analyst estimates; revenue rose 27.7% year over year.
• The company raised its quarterly dividend from $1.42 to $1.52 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $315.37.

AlphaCore Capital LLC raised its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 315.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,955 shares of the semiconductor company's stock after buying an additional 31,864 shares during the quarter. AlphaCore Capital LLC's holdings in Texas Instruments were worth $11,751,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Texas Instruments in the 2nd quarter worth about $24,607,313,000. Bank of New York Mellon Corp grew its position in Texas Instruments by 33.6% during the 1st quarter. Bank of New York Mellon Corp now owns 16,402,834 shares of the semiconductor company's stock valued at $3,184,446,000 after purchasing an additional 4,129,601 shares during the last quarter. Bank of America Corp DE bought a new stake in Texas Instruments during the 2nd quarter valued at about $3,700,842,000. Van ECK Associates Corp increased its stake in Texas Instruments by 1.5% during the 2nd quarter. Van ECK Associates Corp now owns 12,149,167 shares of the semiconductor company's stock valued at $3,621,302,000 after purchasing an additional 177,511 shares in the last quarter. Finally, Amundi increased its stake in Texas Instruments by 9.0% during the 1st quarter. Amundi now owns 9,064,214 shares of the semiconductor company's stock valued at $1,759,727,000 after purchasing an additional 752,139 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

Texas Instruments Price Performance

Shares of NASDAQ:TXN opened at $295.73 on Tuesday. The firm's 50 day moving average price is $279.80 and its 200-day moving average price is $261.92. Texas Instruments Incorporated has a twelve month low of $152.73 and a twelve month high of $334.03. The company has a quick ratio of 4.05, a current ratio of 5.59 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $270.23 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39.

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

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be issued a dividend of $1.52 per share. This is an increase from Texas Instruments's previous quarterly dividend of $1.42. This represents a $6.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, October 30th. Texas Instruments's payout ratio is presently 78.86%.

Insiders Place Their Bets

In other news, VP Tsedeniya Abraham sold 7,000 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $264.63, for a total transaction of $1,852,410.00. Following the sale, the vice president directly owned 23,181 shares in the company, valued at $6,134,388.03. This trade represents a 23.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 4,306 shares of the firm's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $302.46, for a total value of $1,302,392.76. Following the sale, the director directly owned 11,341 shares in the company, valued at approximately $3,430,198.86. This represents a 27.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 27,968 shares of company stock valued at $8,236,892. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXN. Jefferies Financial Group upped their target price on shares of Texas Instruments from $260.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, October 22nd. The Goldman Sachs Group reissued a "sell" rating and set a $250.00 price target on shares of Texas Instruments in a research report on Thursday, October 22nd. Cantor Fitzgerald restated a "neutral" rating on shares of Texas Instruments in a report on Tuesday, October 20th. Arete Research lowered their price objective on shares of Texas Instruments from $405.00 to $381.00 and set a "buy" rating on the stock in a research report on Thursday, August 20th. Finally, Citigroup restated a "buy" rating on shares of Texas Instruments in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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