Texas Instruments Incorporated (TXN) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Texas Instruments Incorporated (NASDAQ:TXN) from a hold rating to a buy rating in a research report sent to investors on Thursday. The brokerage currently has $92.00 target price on the semiconductor company’s stock.
According to Zacks, “Texas Instruments is one of the largest suppliers of analog integrated circuits. The company’s second-quarter 2017 results beat the Zacks Consensus Estimate on earnings and revenue. For the last one year, the stock has underperformed the Zacks Semiconductor – General industry. Margins expanded and should continue to expand because of the secular strength in the auto and industrial markets, a stronger mix of analog and embedded processing products, benefits of restructuring actions and more 300mm capacity coming online. The only negatives at this point appear to be strengthening competition particularly for auto chips, given recent market consolidation. There is also the question of negative currency effect and a high debt load.”
Other equities analysts have also issued research reports about the stock. Barclays PLC cut their price objective on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Royal Bank Of Canada reiterated a buy rating and issued a $84.00 price objective on shares of Texas Instruments in a report on Monday, April 3rd. Vetr lowered shares of Texas Instruments from a strong-buy rating to a buy rating and set a $89.16 price objective on the stock. in a report on Monday, April 24th. Rosenblatt Securities reiterated a buy rating and issued a $90.00 price objective on shares of Texas Instruments in a report on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a buy rating and issued a $92.00 price objective on shares of Texas Instruments in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $85.96.
Texas Instruments (NASDAQ TXN) opened at 80.71 on Thursday. Texas Instruments has a 12-month low of $66.30 and a 12-month high of $84.65. The company has a 50-day moving average price of $79.88 and a 200 day moving average price of $79.21. The stock has a market cap of $80.04 billion, a price-to-earnings ratio of 20.06 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Texas Instruments will post $4.11 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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 32,420 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $80.61, for a total value of $2,613,376.20. Following the completion of the sale, the insider now directly owns 102,028 shares of the company’s stock, valued at approximately $8,224,477.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.
Hedge funds have recently modified their holdings of the company. CENTRAL TRUST Co raised its stake in Texas Instruments by 0.3% in the first quarter. CENTRAL TRUST Co now owns 33,608 shares of the semiconductor company’s stock valued at $2,707,000 after buying an additional 90 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in Texas Instruments by 4.9% in the first quarter. Manning & Napier Advisors LLC now owns 155,157 shares of the semiconductor company’s stock valued at $12,498,000 after buying an additional 7,293 shares in the last quarter. UMB Bank N A MO raised its stake in Texas Instruments by 4.9% in the first quarter. UMB Bank N A MO now owns 326,697 shares of the semiconductor company’s stock valued at $26,319,000 after buying an additional 15,401 shares in the last quarter. Rhumbline Advisers raised its stake in Texas Instruments by 0.9% in the first quarter. Rhumbline Advisers now owns 1,753,135 shares of the semiconductor company’s stock valued at $141,233,000 after buying an additional 15,099 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Texas Instruments by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,152 shares of the semiconductor company’s stock valued at $5,974,000 after buying an additional 16,857 shares in the last quarter. 84.56% of the stock is owned by institutional investors.
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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