Zacks: Analysts Anticipate Texas Instruments Incorporated (TXN) Will Announce Quarterly Sales of $3.74 Billion
Equities research analysts expect that Texas Instruments Incorporated (NASDAQ:TXN) will report sales of $3.74 billion for the current quarter, Zacks reports. Ten analysts have made estimates for Texas Instruments’ earnings. The highest sales estimate is $3.79 billion and the lowest is $3.72 billion. Texas Instruments posted sales of $3.41 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The firm is expected to report its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Texas Instruments will report full year sales of $3.74 billion for the current fiscal year, with estimates ranging from $14.68 billion to $15.00 billion. For the next fiscal year, analysts forecast that the business will post sales of $15.50 billion per share, with estimates ranging from $14.98 billion to $15.87 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Texas Instruments.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share.
Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Texas Instruments from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp reiterated a “hold” rating on shares of Texas Instruments in a research report on Friday, November 24th. Drexel Hamilton restated a “buy” rating and issued a $110.00 price target (up previously from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Credit Suisse Group restated an “outperform” rating and issued a $110.00 price target (up previously from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Finally, Loop Capital restated a “hold” rating and issued a $102.00 price target (up previously from $90.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.16.
Shares of Texas Instruments (TXN) traded up $0.43 during midday trading on Thursday, hitting $98.86. The company had a trading volume of 5,282,100 shares, compared to its average volume of 4,591,226. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. Texas Instruments has a 52-week low of $72.40 and a 52-week high of $99.79. The firm has a market capitalization of $97,008.73, a P/E ratio of 24.24, a PEG ratio of 2.35 and a beta of 1.27.
Texas Instruments announced that its board has approved a share repurchase program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 74% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Texas Instruments news, Chairman Richard K. Templeton sold 450,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $96.51, for a total value of $43,429,500.00. Following the sale, the chairman now directly owns 1,137,056 shares of the company’s stock, valued at approximately $109,737,274.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the sale, the insider now directly owns 189,234 shares in the company, valued at $18,438,960.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its holdings in shares of Texas Instruments by 3.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,744,481 shares of the semiconductor company’s stock valued at $335,655,000 after buying an additional 132,195 shares during the period. AXA raised its holdings in shares of Texas Instruments by 8.8% during the 3rd quarter. AXA now owns 1,287,487 shares of the semiconductor company’s stock valued at $115,411,000 after buying an additional 104,112 shares during the period. Burgundy Asset Management Ltd. purchased a new stake in shares of Texas Instruments during the 3rd quarter valued at about $120,341,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Texas Instruments during the 3rd quarter valued at about $837,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Texas Instruments by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 716,876 shares of the semiconductor company’s stock valued at $64,261,000 after buying an additional 7,426 shares during the period. 83.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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