KeyCorp Reaffirms “Hold” Rating for Texas Instruments Incorporated (TXN)
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “hold” rating restated by stock analysts at KeyCorp in a research report issued on Friday.
A number of other equities analysts have also recently issued reports on TXN. Mizuho restated a “hold” rating on shares of Texas Instruments in a research note on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and issued a $105.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 25th. Deutsche Bank AG increased their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Bank of America Corporation increased their price objective on shares of Texas Instruments from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Nomura increased their price objective on shares of Texas Instruments from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Texas Instruments presently has a consensus rating of “Buy” and a consensus target price of $93.85.
Shares of Texas Instruments (NASDAQ:TXN) opened at $98.08 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28. Texas Instruments has a 1-year low of $69.92 and a 1-year high of $99.65. The firm has a market cap of $96,663.78, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue was up 12.0% on a year-over-year basis. equities research analysts predict that Texas Instruments will post 4.34 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase 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 management believes its shares are undervalued.
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In other news, COO Brian T. Crutcher sold 68,687 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.10, for a total value of $6,600,820.70. Following the transaction, the chief operating officer now owns 346,428 shares of the company’s stock, valued at approximately $33,291,730.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bing Xie sold 17,500 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 78,102 shares in the company, valued at approximately $7,539,186.06. The disclosure for this sale can be found here. Insiders sold a total of 1,362,293 shares of company stock worth $131,754,396 in the last ninety days. Insiders own 0.96% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TXN. American Beacon Advisors Inc. bought a new position in Texas Instruments in the first quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC lifted 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 buying an additional 200 shares in the last quarter. MV Capital Management Inc. lifted 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 buying an additional 93 shares in the last quarter. Balentine LLC lifted 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 buying an additional 80 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. 85.25% 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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