Texas Instruments Incorporated (TXN) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of Texas Instruments Incorporated (NASDAQ:TXN) in a research note released on Wednesday. They currently have a $85.00 target price on the semiconductor company’s stock.
TXN has been the topic of several other research reports. Royal Bank Of Canada increased their price objective on shares of 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 increased their price objective on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of Texas Instruments from a hold rating to a buy rating and set a $92.00 price objective on the stock in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $86.51.
Texas Instruments (TXN) opened at 91.35 on Wednesday. The company has a 50-day moving average price of $84.73 and a 200 day moving average price of $81.49. Texas Instruments has a 12 month low of $66.80 and a 12 month high of $91.54. The firm has a market cap of $90.44 billion, a PE ratio of 22.85 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. Texas Instruments’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. Equities research analysts anticipate that Texas Instruments will post $4.13 EPS for the current year.
Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The company 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. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.71%. Texas Instruments’s dividend payout ratio (DPR) is currently 50.51%.
In related news, Director Carrie Smith Cox sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the transaction, the director now owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total transaction 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 approximately $20,662,370.87. The disclosure for this sale can be found here. Insiders sold a total of 211,301 shares of company stock valued at $17,259,256 in the last ninety days. Company insiders own 0.96% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in Texas Instruments by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock worth $391,499,000 after buying an additional 73,740 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in Texas Instruments in the 1st quarter worth approximately $406,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Texas Instruments by 29.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,152 shares of the semiconductor company’s stock worth $5,974,000 after buying an additional 16,857 shares in the last quarter. Cullinan Associates Inc. lifted its position in Texas Instruments by 1.3% in the 2nd quarter. Cullinan Associates Inc. now owns 123,800 shares of the semiconductor company’s stock worth $9,524,000 after buying an additional 1,575 shares in the last quarter. Finally, American International Group Inc. lifted its position in Texas Instruments by 1.6% in the 1st quarter. American International Group Inc. now owns 471,415 shares of the semiconductor company’s stock worth $37,977,000 after buying an additional 7,369 shares in the last quarter. Institutional investors own 83.68% of the company’s stock.
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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