Texas Instruments Incorporated (TXN) Stock Rating Reaffirmed by SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their hold rating on shares of Texas Instruments Incorporated (NASDAQ:TXN) in a research note published on Wednesday. SunTrust Banks, Inc. currently has a $86.00 price objective on the semiconductor company’s stock, up from their previous price objective of $84.00.
Several other analysts have also issued reports on TXN. B. Riley reissued a neutral rating and set a $83.00 target price on shares of Texas Instruments in a report on Wednesday, April 26th. UBS AG reiterated a buy rating and issued a $93.00 target price (up from $91.00) on shares of Texas Instruments in a research report on Wednesday. Cowen and Company reiterated a market perform rating and issued a $85.00 target price (up from $82.00) on shares of Texas Instruments in a research report on Wednesday. Drexel Hamilton increased their target price on Texas Instruments from $93.00 to $95.00 and gave the company a buy rating in a research report on Wednesday. Finally, Royal Bank Of Canada increased their target price on Texas Instruments from $95.00 to $96.00 and gave the company an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $85.96.
Shares of Texas Instruments (TXN) opened at 80.71 on Wednesday. The stock has a 50 day moving average of $79.88 and a 200 day moving average of $79.21. Texas Instruments has a 52 week low of $66.30 and a 52 week high of $84.65. The firm has a market cap of $80.04 billion, a P/E ratio of 20.06 and a beta of 1.20.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts forecast that Texas Instruments will post $4.11 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, July 27th. Texas Instruments’s dividend payout ratio is currently 50.51%.
In other news, insider Niels Anderskouv sold 134,360 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $80.42, for a total value of $10,805,231.20. Following the completion of the transaction, the insider now owns 132,079 shares of the company’s stock, valued at approximately $10,621,793.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Enterprise Financial Services Corp increased its stake in shares of 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 buying an additional 4 shares in the last quarter. Hudock Capital Group LLC increased its position in Texas Instruments by 0.4% in the first quarter. Hudock Capital Group LLC now owns 1,977 shares of the semiconductor company’s stock worth $159,000 after buying an additional 7 shares during the period. Tradewinds Capital Management LLC increased its position in Texas Instruments by 0.4% in the first quarter. Tradewinds Capital Management LLC now owns 1,988 shares of the semiconductor company’s stock worth $160,000 after buying an additional 8 shares during the period. TNB Financial increased 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 worth $221,000 after buying an additional 14 shares during the period. Finally, Reynders McVeigh Capital Management LLC increased its position in Texas Instruments by 0.8% in the first quarter. Reynders McVeigh Capital Management LLC now owns 3,255 shares of the semiconductor company’s stock worth $262,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 84.64% 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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