Texas Instruments (NASDAQ:TXN) had its target price cut by Susquehanna Bancshares from $135.00 to $120.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. They currently have a positive rating on the semiconductor company’s stock.
A number of other brokerages have also recently commented on TXN. Bank of America boosted their target price on shares of Texas Instruments from $138.00 to $140.00 and gave the company a buy rating in a report on Wednesday, July 25th. Zacks Investment Research lowered Texas Instruments from a hold rating to a sell rating in a research report on Thursday, September 27th. BidaskClub lowered Texas Instruments from a sell rating to a strong sell rating in a research report on Friday, September 14th. B. Riley lifted their price target on Texas Instruments from $115.00 to $123.00 and gave the stock a neutral rating in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group reaffirmed a buy rating and issued a $157.00 price target on shares of Texas Instruments in a research report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Texas Instruments currently has an average rating of Hold and a consensus price target of $121.58.
Shares of TXN stock opened at $101.09 on Wednesday. Texas Instruments has a 12 month low of $92.57 and a 12 month high of $120.75. The firm has a market cap of $104.31 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a current ratio of 6.54, a quick ratio of 5.12 and a debt-to-equity ratio of 0.48.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.03. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Texas Instruments will post 5.49 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has authorized a share buyback program on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a $0.77 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.05%. Texas Instruments’s payout ratio is 57.94%.
In other Texas Instruments news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total value of $2,824,222.90. Following the completion of the transaction, the insider now owns 131,153 shares of the company’s stock, valued at approximately $14,630,117.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.84% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. Kiley Juergens Wealth Management LLC bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $100,000. Centaurus Financial Inc. bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $101,000. Baker Ellis Asset Management LLC bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $105,000. Kwmg LLC bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Texas Instruments during the 3rd quarter valued at about $107,000. 84.02% of the stock is owned by institutional investors and hedge funds.
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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