SunTrust Banks, Inc. restated their hold rating on shares of Texas Instruments Incorporated (NASDAQ:TXN) in a report issued on Wednesday morning, The Fly reports. They currently have a $96.00 price objective on the semiconductor company’s stock.
Several other research analysts have also commented on the company. Zacks Investment Research raised Texas Instruments from a sell rating to a hold rating in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a hold rating and set a $98.00 price target (up previously from $85.00) on shares of Texas Instruments in a research report on Wednesday. Morgan Stanley reaffirmed an equal weight rating and set a $83.00 price target (up previously from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a market perform rating and set a $85.00 price target (up previously from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Finally, Barclays PLC lifted their price target on 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 investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $93.85.
Shares of Texas Instruments (TXN) traded up 1.40% during midday trading on Wednesday, hitting $97.50. The stock had a trading volume of 5,725,272 shares. Texas Instruments has a one year low of $66.80 and a one year high of $97.56. The firm has a 50 day moving average price of $89.23 and a 200 day moving average price of $82.77. The stock has a market cap of $96.53 billion, a PE ratio of 24.39 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the company earned $0.94 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Texas Instruments will post $4.14 earnings per share for the current fiscal year.
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Texas Instruments declared that its board has authorized a share buyback program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders 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 2.54%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s payout ratio is 46.73%.
In other news, COO Brian T. Crutcher sold 50,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the transaction, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the completion of the transaction, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,301 shares of company stock valued at $16,107,756. Insiders own 0.96% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. acquired a new position in Texas Instruments in the first quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC increased its stake 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 valued at $101,000 after purchasing an additional 200 shares during the last quarter. MV Capital Management Inc. increased its stake 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 valued at $102,000 after purchasing an additional 93 shares during the last quarter. ClariVest Asset Management LLC increased its stake 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 valued at $104,000 after purchasing an additional 100 shares during the last quarter. Finally, Balentine LLC increased its stake in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 83.63% 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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