Texas Instruments Incorporated (TXN) Earns Buy Rating from Jefferies Group LLC
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research note issued to investors on Monday. They currently have a $96.00 target price on the semiconductor company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 8.76% from the company’s current price.
A number of other research firms have also weighed in on TXN. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Morgan Stanley reissued an “equal weight” rating and issued a $83.00 price objective (up previously from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $86.00 price objective (up previously from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company reissued a “market perform” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Finally, Barclays PLC boosted their price objective on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $86.25.
Texas Instruments (TXN) traded down 0.37% during mid-day trading on Monday, hitting $87.94. 559,886 shares of the stock traded hands. Texas Instruments has a 12-month low of $66.80 and a 12-month high of $88.45. The firm’s 50-day moving average is $82.00 and its 200-day moving average is $80.72. The company has a market cap of $87.06 billion, a price-to-earnings ratio of 22.00 and a beta of 1.20. Texas Instruments also was the target of some unusual options trading activity on Friday. Traders acquired 4,994 call options on the company. This is an increase of approximately 201% compared to the average daily volume of 1,658 call options.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 earnings per share. Equities research analysts expect that Texas Instruments will post $4.13 EPS for the current year.
Texas Instruments declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the transaction, the director now directly owns 38,435 shares in the company, valued at approximately $3,161,278.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the transaction, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last 90 days. Insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. American Beacon Advisors Inc. bought a new position in Texas Instruments during the 1st quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Texas Instruments by 18.4% during 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. ClariVest Asset Management LLC boosted its stake in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 100 shares during the last quarter. Balentine LLC boosted its stake in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 80 shares during the last quarter. Finally, MV Capital Management Inc. boosted its stake in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.
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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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