KeyCorp Reiterates “Hold” Rating for Texas Instruments Incorporated (TXN)
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “hold” rating reissued by analysts at KeyCorp in a report released on Friday.
TXN has been the topic of a number of other reports. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Zacks Investment Research downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Barclays PLC boosted their price target on shares of Texas Instruments from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada boosted their target price on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Texas Instruments has a consensus rating of “Buy” and an average target price of $87.44.
Texas Instruments (TXN) opened at 95.18 on Friday. The company’s 50-day moving average is $88.24 and its 200 day moving average is $82.41. Texas Instruments has a 12-month low of $66.80 and a 12-month high of $95.40. The stock has a market capitalization of $94.23 billion, a PE ratio of 23.81 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned $0.76 EPS. Texas Instruments’s revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Texas Instruments will post $4.13 EPS for the current year.
Texas Instruments announced that its Board of Directors has authorized a share buyback program on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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In other news, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total value of $8,632,986.36. Following the completion of the sale, the insider now directly owns 252,257 shares in the company, valued at $20,662,370.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the completion of the sale, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last 90 days. 0.96% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. APG Asset Management N.V. raised its stake in Texas Instruments by 9.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,078,265 shares of the semiconductor company’s stock valued at $275,936,000 after purchasing an additional 271,800 shares during the last quarter. Carnick & Kubik Group LLC acquired a new position in Texas Instruments during the 3rd quarter valued at $1,461,000. Farmers & Merchants Investments Inc. raised its stake in Texas Instruments by 3.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 131,542 shares of the semiconductor company’s stock valued at $11,791,000 after purchasing an additional 4,616 shares during the last quarter. Merriman Wealth Management LLC acquired a new position in Texas Instruments during the 3rd quarter valued at $248,000. Finally, Oakbrook Investments LLC raised its stake in Texas Instruments by 64.2% during the 3rd quarter. Oakbrook Investments LLC now owns 66,100 shares of the semiconductor company’s stock valued at $5,925,000 after purchasing an additional 25,850 shares during the last quarter. Hedge funds and other institutional investors own 83.66% 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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