Versant Capital Management Inc cut its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 48.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 427 shares of the semiconductor company’s stock after selling 398 shares during the period. Versant Capital Management Inc’s holdings in Texas Instruments were worth $49,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Bank & Trust Co. increased its stake in Texas Instruments by 52.9% during the second quarter. Central Bank & Trust Co. now owns 12,646 shares of the semiconductor company’s stock valued at $1,451,000 after purchasing an additional 4,375 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Texas Instruments during the second quarter worth about $471,000. Railway Pension Investments Ltd bought a new position in shares of Texas Instruments during the second quarter worth about $12,823,000. Thoroughbred Financial Services LLC bought a new position in shares of Texas Instruments during the second quarter worth about $23,365,000. Finally, IFM Investors Pty Ltd grew its position in shares of Texas Instruments by 5.7% during the second quarter. IFM Investors Pty Ltd now owns 66,595 shares of the semiconductor company’s stock worth $7,642,000 after acquiring an additional 3,590 shares during the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider R Gregory Delagi sold 450,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $128.31, for a total value of $57,739,500.00. Following the transaction, the insider now owns 243,755 shares in the company, valued at approximately $31,276,204.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cynthia Hoff Trochu sold 6,185 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.22, for a total value of $793,040.70. Following the completion of the transaction, the senior vice president now owns 62,417 shares in the company, valued at approximately $8,003,107.74. The disclosure for this sale can be found here. Insiders have sold 1,052,507 shares of company stock valued at $134,609,837 over the last ninety days. Insiders own 0.89% of the company’s stock.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. Texas Instruments had a net margin of 34.98% and a return on equity of 57.25%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was down 8.7% on a year-over-year basis. Research analysts forecast that Texas Instruments Incorporated will post 5.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, July 30th. Texas Instruments’s dividend payout ratio is presently 56.83%.
TXN has been the subject of several recent research reports. UBS Group restated a “sell” rating and set a $90.00 price target on shares of Texas Instruments in a research report on Wednesday, April 24th. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating and set a $135.00 price target for the company in a report on Saturday, July 27th. Jefferies Financial Group upped their price target on shares of Texas Instruments from $137.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Co cut their price target on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Charter Equity raised shares of Texas Instruments from a “market perform” rating to a “buy” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the stock. Texas Instruments has a consensus rating of “Hold” and an average price target of $118.74.
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.
See Also: Why Dividend Stocks May Be Right for You
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).
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.