Texas Instruments Incorporated (NASDAQ:TXN) had its price objective lifted by Bank of America Corporation from $100.00 to $115.00 in a research note released on Wednesday, October 25th. The brokerage currently has a buy rating on the semiconductor company’s stock.
TXN has been the subject of a number of other research reports. Robert W. Baird increased their price objective on shares of Texas Instruments from $85.00 to $100.00 and gave the company a neutral rating in a report on Wednesday, October 25th. BidaskClub upgraded shares of Texas Instruments from a buy rating to a strong-buy rating in a report on Saturday, September 2nd. Zacks Investment Research downgraded shares of Texas Instruments from a buy rating to a hold rating in a report on Tuesday, October 17th. Barclays PLC lifted their target price on shares of Texas Instruments from $85.00 to $95.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada lifted their target price on shares of Texas Instruments from $95.00 to $96.00 and gave the company an outperform rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $93.85.
Texas Instruments (NASDAQ:TXN) traded down $0.11 during trading hours on Wednesday, reaching $96.94. 3,416,600 shares of the company’s stock traded hands, compared to its average volume of 4,627,588. 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 one year low of $69.00 and a one year high of $99.05. The stock has a market capitalization 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.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. research analysts predict that Texas Instruments will post 4.33 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio (DPR) is 57.94%.
Texas Instruments announced that its board has authorized a share buyback program on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Texas Instruments news, insider Ellen Barker sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the transaction, the insider now directly owns 45,697 shares in the company, valued at $3,741,213.39. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $97.44, for a total transaction of $23,263,800.00. Following the completion of the transaction, the insider now owns 189,234 shares of the company’s stock, valued at $18,438,960.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,482,689 shares of company stock worth $141,615,432. 0.96% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Texas Instruments by 2.1% during the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock worth $6,256,728,000 after purchasing an additional 1,683,613 shares during the period. BlackRock Inc. raised its position in Texas Instruments by 1.1% during the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock valued at $5,031,257,000 after acquiring an additional 681,821 shares in the last quarter. State Street Corp raised its position in Texas Instruments by 1.4% during the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock valued at $3,298,445,000 after acquiring an additional 573,645 shares in the last quarter. Northern Trust Corp raised its position in Texas Instruments by 0.4% during the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock valued at $1,042,864,000 after acquiring an additional 53,846 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Texas Instruments by 729.1% during the second quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock valued at $955,996,000 after acquiring an additional 10,928,410 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
Texas Instruments Company Profile
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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