American International Group Inc. decreased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,977,121 shares of the semiconductor company’s stock after selling 141,579 shares during the period. Texas Instruments makes up approximately 1.8% of American International Group Inc.’s portfolio, making the stock its 8th biggest position. American International Group Inc.’s holdings in Texas Instruments were worth $456,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of TXN. Comerica Securities Inc. lifted its stake in Texas Instruments by 5.3% in the 4th quarter. Comerica Securities Inc. now owns 18,627 shares of the semiconductor company’s stock worth $1,760,000 after acquiring an additional 944 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in Texas Instruments in the 1st quarter valued at approximately $229,000. Nissay Asset Management Corp Japan ADV grew its holdings in Texas Instruments by 17.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 171,343 shares of the semiconductor company’s stock valued at $18,174,000 after buying an additional 25,048 shares during the last quarter. Enlightenment Research LLC acquired a new stake in Texas Instruments in the 1st quarter valued at approximately $276,000. Finally, First Allied Advisory Services Inc. grew its holdings in Texas Instruments by 5.0% in the 1st quarter. First Allied Advisory Services Inc. now owns 11,931 shares of the semiconductor company’s stock valued at $1,268,000 after buying an additional 567 shares during the last quarter. Institutional investors own 85.69% of the company’s stock.
Shares of TXN opened at $130.22 on Friday. The stock has a fifty day moving average price of $123.88 and a two-hundred day moving average price of $114.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.22 and a current ratio of 3.01. Texas Instruments Incorporated has a 52-week low of $87.70 and a 52-week high of $130.92. The company has a market cap of $118.66 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.40 and a beta of 1.26.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Texas Instruments had a return on equity of 57.25% and a net margin of 34.98%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the company posted $1.37 EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts predict that Texas Instruments Incorporated will post 5.24 EPS for the current fiscal year.
In other Texas Instruments news, SVP Bing Xie sold 52,299 shares of Texas Instruments stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $127.75, for a total value of $6,681,197.25. Following the completion of the transaction, the senior vice president now owns 106,264 shares in the company, valued at approximately $13,575,226. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rafael R. Lizardi sold 76,523 shares of Texas Instruments stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $128.02, for a total value of $9,796,474.46. Following the completion of the transaction, the chief financial officer now owns 94,648 shares of the company’s stock, valued at approximately $12,116,836.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,251,117 shares of company stock valued at $159,473,823. Corporate insiders own 0.89% of the company’s stock.
TXN has been the topic of a number of research analyst reports. SunTrust Banks raised their target price on Texas Instruments to $133.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Deutsche Bank reiterated a “neutral” rating and issued a $120.00 price objective on shares of Texas Instruments in a research report on Wednesday, July 24th. Stifel Nicolaus reduced their price objective on Texas Instruments from $122.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on Texas Instruments from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets raised their price objective on Texas Instruments from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $118.71.
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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