Spectrum Management Group Inc. raised its position in shares of Texas Instruments Inc. (NASDAQ:TXN) by 12.5% during the second quarter, Holdings Channel reports. The fund owned 11,669 shares of the company’s stock after buying an additional 1,300 shares during the period. Spectrum Management Group Inc.’s holdings in Texas Instruments were worth $731,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Texas Instruments by 9.4% in the first quarter. Wellington Management Group LLP now owns 11,114,717 shares of the company’s stock worth $638,208,000 after buying an additional 953,224 shares during the period. Geode Capital Management LLC increased its position in Texas Instruments by 5.0% in the first quarter. Geode Capital Management LLC now owns 8,976,226 shares of the company’s stock worth $514,463,000 after buying an additional 430,418 shares during the period. Legal & General Group Plc increased its position in Texas Instruments by 1.3% in the first quarter. Legal & General Group Plc now owns 4,482,107 shares of the company’s stock worth $257,372,000 after buying an additional 56,587 shares during the period. Thomaspartners Inc. increased its position in Texas Instruments by 16.9% in the first quarter. Thomaspartners Inc. now owns 2,851,561 shares of the company’s stock worth $163,737,000 after buying an additional 412,820 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Texas Instruments by 22.0% in the first quarter. Panagora Asset Management Inc. now owns 1,836,407 shares of the company’s stock worth $105,446,000 after buying an additional 331,541 shares during the period. 86.92% of the stock is owned by institutional investors.
Texas Instruments Inc. (NASDAQ:TXN) traded down 0.10% during midday trading on Monday, reaching $68.42. The company had a trading volume of 2,620,850 shares. Texas Instruments Inc. has a 12-month low of $46.73 and a 12-month high of $72.58. The stock has a market capitalization of $68.64 billion, a PE ratio of 23.05 and a beta of 1.32. The company has a 50-day moving average of $69.23 and a 200-day moving average of $64.25.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Texas Instruments had a return on equity of 30.14% and a net margin of 23.89%. The firm earned $3.27 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Texas Instruments Inc. will post $3.06 EPS for the current fiscal year.
TXN has been the subject of a number of analyst reports. B. Riley raised Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Friday, September 30th. Royal Bank Of Canada boosted their price target on Texas Instruments from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, August 22nd. Robert W. Baird raised Texas Instruments from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $80.00 in a research note on Wednesday, September 14th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $80.00 price target (up previously from $75.00) on shares of Texas Instruments in a research note on Monday, August 22nd. Finally, Exane BNP Paribas raised Texas Instruments from an “underperform” rating to a “neutral” rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $69.32.
In related news, insider Stephen A. Anderson sold 103,125 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $70.08, for a total transaction of $7,227,000.00. Following the completion of the sale, the insider now owns 292,446 shares in the company, valued at $20,494,615.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bing Xie sold 11,565 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.12, for a total value of $799,372.80. Following the sale, the insider now owns 187,370 shares of the company’s stock, valued at approximately $12,951,014.40. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.
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).