Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “hold” rating reissued by investment analysts at Mizuho in a report released on Wednesday, October 25th.
The analysts wrote, “We are adjusting our DecQ rev/EPS from $3.7B/$0.99 to $3.7B/$1.08 and F18E from $15.0B/ $4.15 to $15.2B/$4.43. Introducing F19E at $15.8B/$4.58. Raising our PT to $96 from $85, ~21.7x our F18E but maintaining our Neutral rating as TXN looks fairly valued, trading at a premium ~22x P/E valuation versus the semiconductor group.””
Several other research analysts have also recently weighed in on TXN. Jefferies Group LLC restated a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. Cowen and Company restated a “hold” rating and issued a $82.00 price objective on shares of Texas Instruments in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Barclays PLC increased their price target on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Finally, BidaskClub cut shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $93.85.
Texas Instruments (NASDAQ TXN) traded down $0.11 during midday trading on Wednesday, hitting $96.94. 3,416,600 shares of the stock traded hands, compared to its average volume of 4,627,588. The company has a market cap of $95,648.66, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89. Texas Instruments has a 12-month low of $69.00 and a 12-month high of $99.05.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. equities analysts forecast that Texas Instruments will post 4.33 EPS for the current fiscal year.
Texas Instruments declared that its Board of Directors has approved a stock buyback plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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In other news, CEO Richard K. Templeton sold 190,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the transaction, the chief executive officer now owns 1,137,056 shares of the company’s stock, valued at approximately $110,157,985.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ellen Barker sold 15,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the transaction, the insider now directly owns 45,697 shares in the company, valued at approximately $3,741,213.39. The disclosure for this sale can be found here. Insiders sold a total of 1,482,689 shares of company stock worth $141,615,432 in the last ninety days. 0.96% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Enterprise Financial Services Corp grew its position in shares of Texas Instruments by 0.3% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock worth $114,000 after buying an additional 4 shares in the last quarter. Financial Advisory Service Inc. lifted its stake in shares of Texas Instruments by 0.4% during the 2nd quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 12 shares during the last quarter. TNB Financial lifted its stake in shares of Texas Instruments by 0.5% during the 2nd quarter. TNB Financial now owns 2,879 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 14 shares during the last quarter. Highland Private Wealth Management lifted its stake in shares of Texas Instruments by 0.8% during the 2nd quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock worth $234,000 after purchasing an additional 25 shares during the last quarter. Finally, Guardian Life Insurance Co. of America lifted its stake in shares of Texas Instruments by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,855 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 26 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.
About Texas Instruments
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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