Texas Instruments’ (NASDAQ:TXN) Market Perform Rating Reaffirmed at Cowen and Company
Cowen and Company reissued their market perform rating on shares of Texas Instruments Incorporated (NASDAQ:TXN) in a research note published on Wednesday, Marketbeat reports. They currently have a $85.00 target price on the semiconductor company’s stock, up from their prior target price of $82.00.
TXN has been the subject of a number of other reports. Drexel Hamilton reiterated a buy rating and issued a $93.00 target price on shares of Texas Instruments in a research note on Wednesday, April 26th. Instinet reiterated a neutral rating and issued a $75.00 target price (up from $70.00) on shares of Texas Instruments in a research note on Saturday, April 29th. Macquarie began coverage on shares of Texas Instruments in a research note on Thursday, March 30th. They issued a neutral rating and a $82.00 target price for the company. Deutsche Bank AG reiterated a hold rating and issued a $75.00 target price (up from $73.00) on shares of Texas Instruments in a research note on Saturday, April 29th. Finally, Zacks Investment Research cut shares of Texas Instruments from a hold rating to a sell rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $85.96.
Texas Instruments (NASDAQ:TXN) opened at 80.71 on Wednesday. The stock’s 50 day moving average is $79.88 and its 200 day moving average is $79.21. The stock has a market capitalization of $80.04 billion, a PE ratio of 20.06 and a beta of 1.20. Texas Instruments has a 12-month low of $66.30 and a 12-month high of $84.65.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. Texas Instruments’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. Equities analysts anticipate that Texas Instruments will post $4.11 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.00 annualized dividend and a yield of 2.48%. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
In other Texas Instruments news, insider Niels Anderskouv sold 134,360 shares of Texas Instruments stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.42, for a total transaction of $10,805,231.20. Following the sale, 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 SEC, which is available at the SEC website. Insiders own 0.96% of the company’s stock.
A number of large investors have recently made changes to their positions in TXN. Ibex Wealth Advisors boosted its stake in shares of Texas Instruments by 9.1% in the fourth quarter. Ibex Wealth Advisors now owns 25,886 shares of the semiconductor company’s stock valued at $1,935,000 after buying an additional 2,154 shares during the period. Wealthfront Inc. boosted its stake in shares of Texas Instruments by 6.3% in the fourth quarter. Wealthfront Inc. now owns 40,448 shares of the semiconductor company’s stock valued at $2,951,000 after buying an additional 2,401 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Texas Instruments during the fourth quarter valued at about $111,000. Garde Capital Inc. boosted its stake in shares of Texas Instruments by 2.6% in the fourth quarter. Garde Capital Inc. now owns 4,753 shares of the semiconductor company’s stock valued at $347,000 after buying an additional 121 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Texas Instruments by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 1,692,407 shares of the semiconductor company’s stock valued at $123,495,000 after buying an additional 48,137 shares during the period. 84.64% of the stock is currently 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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