Texas Instruments Incorporated (TXN) Receives $86.36 Consensus Price Target from Brokerages
Shares of Texas Instruments Incorporated (NASDAQ:TXN) have earned an average rating of “Buy” from the thirty-one research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $86.36.
A number of brokerages have recently commented on TXN. B. Riley reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Texas Instruments in a research note on Monday, July 31st. Sanford C. Bernstein restated an “outperform” rating and issued a $95.00 price objective on shares of Texas Instruments in a report on Tuesday. Jefferies Group LLC restated a “buy” rating and issued a $96.00 price objective on shares of Texas Instruments in a report on Monday, September 25th. SunTrust Banks, Inc. restated a “hold” rating and issued a $86.00 price objective (up previously from $84.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Finally, Cowen and Company restated a “market perform” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Texas Instruments in a report on Wednesday, July 26th.
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Shares of Texas Instruments (NASDAQ:TXN) traded down 0.01% during mid-day trading on Wednesday, hitting $89.64. 3,283,531 shares of the stock were exchanged. Texas Instruments has a 52-week low of $66.80 and a 52-week high of $89.89. The stock has a 50-day moving average price of $82.00 and a 200 day moving average price of $80.72. The firm has a market cap of $88.75 billion, a price-to-earnings ratio of 22.42 and a beta of 1.20.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the company earned $0.76 EPS. Texas Instruments’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Texas Instruments will post $4.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a $0.62 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
Texas Instruments declared that its Board of Directors has approved a stock 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 buy up to 74% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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 stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the sale, the director now owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 201,440 shares in the company, valued at approximately $16,334,769.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,301 shares of company stock valued at $17,259,256. Insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Beacon Advisors Inc. bought a new stake in shares of Texas Instruments in the 1st quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Texas Instruments by 8.4% in the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 100 shares during the last quarter. Balentine LLC lifted its holdings in shares of Texas Instruments by 6.5% in the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.
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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