BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 33,471 Shares of Texas Instruments Incorporated (TXN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462,747 shares of the semiconductor company’s stock after selling 33,471 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Texas Instruments were worth $49,084,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Cornerstone Advisory LLC bought a new position in shares of Texas Instruments during the 1st quarter worth about $210,000. TD Asset Management Inc. boosted its position in shares of Texas Instruments by 8.8% during the 1st quarter. TD Asset Management Inc. now owns 2,455,355 shares of the semiconductor company’s stock worth $260,439,000 after purchasing an additional 198,284 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its position in shares of Texas Instruments by 9.7% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 7,048 shares of the semiconductor company’s stock worth $748,000 after purchasing an additional 624 shares in the last quarter. Fulcrum Capital LLC bought a new position in shares of Texas Instruments during the 1st quarter worth about $212,000. Finally, Martin Capital Partners LLC boosted its position in shares of Texas Instruments by 13.5% during the 1st quarter. Martin Capital Partners LLC now owns 27,972 shares of the semiconductor company’s stock worth $2,967,000 after purchasing an additional 3,331 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

In other Texas Instruments news, Chairman Richard K. Templeton sold 475,000 shares of Texas Instruments stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $117.38, for a total transaction of $55,755,500.00. Following the transaction, the chairman now owns 930,287 shares of the company’s stock, valued at approximately $109,197,088.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rafael R. Lizardi sold 27,675 shares of Texas Instruments stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $117.87, for a total transaction of $3,262,052.25. Following the transaction, the insider now directly owns 98,809 shares in the company, valued at approximately $11,646,616.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 879,332 shares of company stock worth $103,024,864. Insiders own 0.89% of the company’s stock.

Shares of NASDAQ TXN opened at $105.83 on Friday. Texas Instruments Incorporated has a fifty-two week low of $87.70 and a fifty-two week high of $119.32. The stock has a market capitalization of $100.39 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20. The company has a current ratio of 3.68, a quick ratio of 2.70 and a debt-to-equity ratio of 0.59.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Texas Instruments Incorporated will post 5.16 earnings per share for the current year.

The company 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 of this dividend was Friday, May 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.91%. Texas Instruments’s dividend payout ratio is currently 56.83%.

TXN has been the topic of a number of research analyst reports. Sanford C. Bernstein cut shares of Texas Instruments from an “outperform” rating to a “market perform” rating and set a $108.00 price objective on the stock. in a research report on Monday, March 25th. Wells Fargo & Co cut their price objective on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. ValuEngine raised shares of Texas Instruments from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Nomura initiated coverage on shares of Texas Instruments in a research report on Tuesday, May 7th. They set a “neutral” rating and a $106.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Texas Instruments from $100.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. Texas Instruments currently has an average rating of “Hold” and an average price target of $111.18.

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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.

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

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