Drexel Hamilton reiterated their buy rating on shares of Texas Instruments Incorporated (NASDAQ:TXN) in a report issued on Wednesday, October 25th, MarketBeat Ratings reports. They currently have a $110.00 price target on the semiconductor company’s stock, up from their previous price target of $95.00.
Several other research firms have also recently commented on TXN. Zacks Investment Research raised shares of Texas Instruments from a sell rating to a hold rating in a research report on Monday, July 17th. Morgan Stanley reaffirmed an equal weight rating and issued a $83.00 price objective (up from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $86.00 price objective (up from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company reissued a market perform rating and set a $85.00 price target (up from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Finally, Barclays PLC boosted their price target on shares of Texas Instruments from $77.00 to $83.00 and gave the stock an equal weight rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $93.85.
Texas Instruments (TXN) opened at $96.94 on Wednesday. The stock has a market cap of $95,540.28, a price-to-earnings ratio of 23.88, a PEG ratio of 2.33 and a beta of 1.28. Texas Instruments has a fifty-two week low of $69.00 and a fifty-two week high of $99.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. sell-side analysts expect that Texas Instruments will post 4.33 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.56%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio (DPR) is presently 57.94%.
Texas Instruments declared that its board has initiated a stock buyback plan on Thursday, September 21st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, SVP Bing Xie sold 17,500 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the completion of the sale, the senior vice president now directly owns 78,102 shares in the company, valued at $7,539,186.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider R Gregory Delagi sold 238,750 shares of the stock in a transaction on 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 sale, 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. Insiders have sold 1,467,689 shares of company stock valued at $140,387,382 in the last ninety days. Insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in Texas Instruments in the first quarter worth $101,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares during the period. MV Capital Management Inc. grew its holdings in Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the period. ClariVest Asset Management LLC grew its holdings in Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 100 shares during the period. Finally, Balentine LLC grew its holdings in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the period. Institutional investors 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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