Texas Instruments’ (TXN) “Outperform” Rating Reiterated at Royal Bank of Canada
Royal Bank of Canada reiterated their outperform rating on shares of Texas Instruments (NASDAQ:TXN) in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $127.00 price objective on the semiconductor company’s stock, up from their prior price objective of $112.00.
A number of other equities research analysts have also weighed in on TXN. Zacks Investment Research upgraded shares of Texas Instruments from a hold rating to a buy rating and set a $124.00 target price for the company in a research note on Saturday. Oppenheimer restated a buy rating and issued a $130.00 price objective on shares of Texas Instruments in a research note on Friday. BMO Capital Markets restated an outperform rating and issued a $138.00 price objective (up from $5.08) on shares of Texas Instruments in a research note on Friday. Sanford C. Bernstein reaffirmed an outperform rating and issued a $95.00 target price on shares of Texas Instruments in a report on Tuesday, September 26th. Finally, Stifel Nicolaus upped their target price on shares of Texas Instruments from $98.00 to $115.00 and gave the stock a hold rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $99.84.
Texas Instruments (TXN) traded up $2.61 during mid-day trading on Monday, reaching $119.44. The company had a trading volume of 7,217,400 shares, compared to its average volume of 5,936,229. The company has a market cap of $117,400.00, a PE ratio of 27.21, a PEG ratio of 2.66 and a beta of 1.27. Texas Instruments has a fifty-two week low of $74.52 and a fifty-two week high of $119.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, January 30th. Texas Instruments’s dividend payout ratio (DPR) is presently 56.49%.
In other Texas Instruments news, VP Darla H. Whitaker sold 118,799 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.24, for a total transaction of $11,433,215.76. Following the completion of the transaction, the vice president now owns 123,993 shares of the company’s stock, valued at approximately $11,933,086.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 16,990 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.44, for a total transaction of $1,638,515.60. Following the completion of the transaction, the director now directly owns 18,495 shares of the company’s stock, valued at approximately $1,783,657.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,293 shares of company stock valued at $131,754,396 in the last three months. Insiders own 0.96% of the company’s stock.
Several large investors have recently made changes to their positions in TXN. 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 valued at $101,000 after acquiring an additional 200 shares during the last quarter. Acrospire Investment Management LLC raised its position in Texas Instruments by 55.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Texas Instruments in the 2nd quarter worth about $112,000. Westside Investment Management Inc. raised its position in Texas Instruments by 6.9% in the 2nd quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 100 shares during the period. Finally, Zions Bancorporation raised its position in Texas Instruments by 915.6% in the 3rd quarter. Zions Bancorporation now owns 1,564 shares of the semiconductor company’s stock worth $140,000 after purchasing an additional 1,410 shares during the period. 83.89% of the stock is owned by hedge funds and other 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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