Capital Bank & Trust Co cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 412,386 shares of the semiconductor company’s stock after selling 80,722 shares during the period. Capital Bank & Trust Co’s holdings in Texas Instruments were worth $47,414,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in TXN. Advisory Services Network LLC increased its holdings in Texas Instruments by 103.2% in the first quarter. Advisory Services Network LLC now owns 12,294 shares of the semiconductor company’s stock valued at $1,304,000 after purchasing an additional 6,245 shares during the period. Dowling & Yahnke LLC increased its holdings in Texas Instruments by 0.7% in the second quarter. Dowling & Yahnke LLC now owns 62,176 shares of the semiconductor company’s stock valued at $7,135,000 after purchasing an additional 422 shares during the period. ARP Americas LP increased its holdings in Texas Instruments by 233.4% in the second quarter. ARP Americas LP now owns 21,998 shares of the semiconductor company’s stock valued at $2,524,000 after purchasing an additional 15,400 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Texas Instruments by 16.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,216 shares of the semiconductor company’s stock valued at $373,000 after purchasing an additional 456 shares during the period. Finally, M Holdings Securities Inc. acquired a new stake in Texas Instruments in the first quarter valued at $216,000. Institutional investors own 85.38% of the company’s stock.
In related news, SVP Bing Xie sold 52,299 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.75, for a total value of $6,681,197.25. Following the transaction, the senior vice president now owns 106,264 shares of the company’s stock, valued at approximately $13,575,226. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rafael R. Lizardi sold 76,523 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $128.02, for a total transaction of $9,796,474.46. Following the completion of the transaction, the chief financial officer now directly owns 94,648 shares in the company, valued at approximately $12,116,836.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,251,117 shares of company stock worth $159,473,823. 0.89% of the stock is owned by insiders.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Texas Instruments had a net margin of 34.98% and a return on equity of 57.25%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the firm earned $1.37 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Instruments Incorporated will post 5.24 EPS for the current year.
A number of analysts recently weighed in on the company. Credit Suisse Group increased their price objective on Texas Instruments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Charter Equity upgraded Texas Instruments from a “market perform” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank restated a “neutral” rating and issued a $120.00 price objective on shares of Texas Instruments in a report on Wednesday, July 24th. CIBC increased their price objective on Texas Instruments from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded Texas Instruments from a “buy” rating to a “hold” rating and set a $126.00 price objective for the company. in a report on Monday, August 26th. Two investment 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 a consensus price target 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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