Texas Instruments Inc. (TXN) Rating Increased to Buy at B. Riley
Texas Instruments Inc. (NASDAQ:TXN) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a note issued to investors on Friday.
TXN has been the subject of several other research reports. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Texas Instruments in a research report on Tuesday, June 7th. Royal Bank Of Canada increased their target price on shares of Texas Instruments from $66.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, July 26th. Exane BNP Paribas raised shares of Texas Instruments from an “underperform” rating to a “neutral” rating in a report on Friday, August 5th. Credit Suisse Group AG reissued a “neutral” rating and issued a $77.00 target price (up previously from $65.00) on shares of Texas Instruments in a report on Wednesday, July 27th. Finally, Mizuho increased their target price on shares of Texas Instruments from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.44.
Shares of Texas Instruments (NASDAQ:TXN) opened at 69.66 on Friday. The firm has a market cap of $69.88 billion, a PE ratio of 23.47 and a beta of 1.32. The stock’s 50 day moving average is $69.40 and its 200 day moving average is $63.41. Texas Instruments has a 12 month low of $46.73 and a 12 month high of $72.58.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Monday, July 25th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Texas Instruments had a net margin of 23.89% and a return on equity of 30.14%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the company posted $0.65 earnings per share. Texas Instruments’s revenue was up 1.3% compared to the same quarter last year. Analysts forecast that Texas Instruments will post $3.06 EPS for the current fiscal year.
In other Texas Instruments news, insider Kevin J. Ritchie sold 61,499 shares of Texas Instruments stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $70.82, for a total transaction of $4,355,359.18. Following the completion of the transaction, the insider now owns 249,548 shares of the company’s stock, valued at approximately $17,672,989.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bing Xie sold 11,565 shares of Texas Instruments stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.12, for a total value of $799,372.80. Following the transaction, the insider now directly owns 187,370 shares of the company’s stock, valued at approximately $12,951,014.40. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its position in Texas Instruments by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,723 shares of the company’s stock worth $108,000 after buying an additional 125 shares during the last quarter. Hudock Capital Group LLC raised its position in Texas Instruments by 0.4% in the second quarter. Hudock Capital Group LLC now owns 1,957 shares of the company’s stock worth $122,000 after buying an additional 7 shares during the last quarter. Tradewinds Capital Management LLC raised its position in Texas Instruments by 0.4% in the second quarter. Tradewinds Capital Management LLC now owns 1,966 shares of the company’s stock worth $123,000 after buying an additional 7 shares during the last quarter. Tortoise Investment Management LLC bought a new position in Texas Instruments during the second quarter worth $125,000. Finally, Advisory Services Network LLC raised its position in Texas Instruments by 1.8% in the second quarter. Advisory Services Network LLC now owns 2,221 shares of the company’s stock worth $139,000 after buying an additional 40 shares during the last quarter. 86.89% of the stock is 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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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