Hello everyone, today I wanted to share a new purchase with you that I made last week. On October 22nd Texas Instruments announced their quarterly earnings after the market closed. The company missed earnings expectations and in after market trading the stock was down double digits.
Here is some of the financial numbers Texas Instruments released in the earnings release:
- Revenue decreased 11%
- Operating Profit down 18%
- Net Income down 9%
- Earnings Per Share down 6%
I believe that this is just a small bump in the road and Texas Instruments will go back to beating expectations in a couple of quarters, once the trade war with China gets resolved. After looking at what was going on in after market trading I gathered up my loose to change to see if I could buy anymore shares.
The next day October 23rd I didn’t have to wait long within minutes the stock was down 10% and trading around $118.
After counting all my change I had enough cash to purchase 13 additional shares at a price of $118.50, so I put my bid in and was successful a short time later. This is the second purchase of the stock I’ve made, the first was at $121.47 and with this buy I was able to lower my cost basis.
Texas Instruments recently announced that they would be raising the dividend to $0.90 per share quarterly, so with this purchase my annual dividend income will increase by $46.80.
So what do you think of the purchase? Do you own the stock? Please feel free to comment below.