Morgan Stanley Increases Texas Instruments (TXN) Price Target to $92.00
Texas Instruments (NASDAQ:TXN) had its price target hoisted by equities researchers at Morgan Stanley from $88.00 to $92.00 in a note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 8.23% from the company’s previous close.
Several other brokerages have also recently weighed in on TXN. SunTrust Banks reissued a “hold” rating and set a $96.00 price objective on shares of Texas Instruments in a report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price target (up from $85.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. B. Riley reaffirmed a “hold” rating and issued a $97.00 price target (up from $89.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. BidaskClub cut Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research raised Texas Instruments from a “hold” rating to a “strong-buy” rating and set a $107.00 price target for the company in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Texas Instruments currently has an average rating of “Buy” and a consensus price target of $94.16.
Shares of Texas Instruments (NASDAQ TXN) opened at $100.25 on Wednesday. The firm has a market capitalization of $97,008.73, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.35 and a beta of 1.27. Texas Instruments has a twelve month low of $72.45 and a twelve month high of $100.54. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. equities analysts anticipate that Texas Instruments will post 4.36 earnings per share for the current fiscal year.
Texas Instruments announced that its board has initiated a share repurchase program on Thursday, September 21st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
In related news, VP R Gregory Delagi sold 61,250 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $96.75, for a total transaction of $5,925,937.50. Following the completion of the sale, the vice president now directly owns 189,234 shares of the company’s stock, valued at approximately $18,308,389.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Cynthia Hoff Trochu sold 31,112 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $96.27, for a total value of $2,995,152.24. Following the sale, the senior vice president now directly owns 74,029 shares of the company’s stock, valued at $7,126,771.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its position in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the last quarter. MV Capital Management Inc. boosted its position in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Texas Instruments by 55.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 500 shares during the last quarter. American National Bank boosted its position in Texas Instruments by 2,470.9% during the 2nd quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Texas Instruments during the 2nd quarter worth approximately $112,000. 83.97% of the stock is 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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