Texas Instruments Incorporated (TXN) Price Target Raised to $95.00 at Barclays PLC
Texas Instruments Incorporated (NASDAQ:TXN) had its target price lifted by Barclays PLC from $85.00 to $95.00 in a research note published on Wednesday morning. Barclays PLC currently has an equal weight rating on the semiconductor company’s stock.
A number of other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada upped their price objective on Texas Instruments from $95.00 to $96.00 and gave the stock an outperform rating in a research note on Wednesday, July 26th. UBS AG reiterated a buy rating and set a $93.00 price objective (up previously from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Loop Capital reiterated a hold rating and set a $84.00 price objective (up previously from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Drexel Hamilton upped their price objective on Texas Instruments from $93.00 to $95.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $86.00 price objective on shares of Texas Instruments in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $86.92.
Shares of Texas Instruments (NASDAQ:TXN) traded down 0.24% during trading on Wednesday, reaching $93.21. 2,134,758 shares of the company traded hands. The stock’s 50 day moving average price is $87.57 and its 200-day moving average price is $82.22. The stock has a market cap of $92.28 billion, a P/E ratio of 23.31 and a beta of 1.24. Texas Instruments has a 12 month low of $66.80 and a 12 month high of $93.73.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. On average, equities research analysts expect that Texas Instruments will post $4.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.65%. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.
Texas Instruments announced that its board has authorized 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 purchase up to 74% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at $16,334,769.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the stock in a transaction dated 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 transaction, the insider now owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock worth $17,259,256 over the last ninety days. 0.96% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Enterprise Financial Services Corp raised its position in Texas Instruments by 0.3% in the second quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 4 shares during the last quarter. Financial Advisory Service Inc. raised its position in Texas Instruments by 0.4% in the second quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 12 shares during the last quarter. TNB Financial raised its position in Texas Instruments by 0.5% in the second quarter. TNB Financial now owns 2,879 shares of the semiconductor company’s stock valued at $221,000 after purchasing an additional 14 shares during the last quarter. Highland Private Wealth Management raised its position in Texas Instruments by 0.8% in the second quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 25 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its position in Texas Instruments by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,855 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 26 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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