Texas Instruments (TXN) Rating Reiterated by BMO Capital Markets
Texas Instruments (NASDAQ:TXN)‘s stock had its “outperform” rating restated by equities research analysts at BMO Capital Markets in a report issued on Friday, The Fly reports. They presently have a $138.00 target price on the semiconductor company’s stock, up from their previous target price of $5.08. BMO Capital Markets’ price target would indicate a potential upside of 18.55% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus boosted their price target on Texas Instruments from $98.00 to $115.00 and gave the company a “hold” rating in a research report on Thursday. Credit Suisse Group reissued an “in-line” rating and set a $125.00 price target (up previously from $110.00) on shares of Texas Instruments in a research report on Tuesday. Zacks Investment Research downgraded Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reissued a “buy” rating and set a $112.00 price target on shares of Texas Instruments in a research report on Thursday, January 4th. Finally, BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Texas Instruments presently has an average rating of “Hold” and an average target price of $97.92.
Shares of Texas Instruments (TXN) opened at $116.41 on Friday. The company has a market capitalization of $117,439.40, a price-to-earnings ratio of 27.20, a PEG ratio of 2.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. Texas Instruments has a 1 year low of $73.87 and a 1 year high of $119.98.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts expect that Texas Instruments will post 4.36 EPS for the current year.
Texas Instruments declared that its board has approved a stock buyback program on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, insider R Gregory Delagi sold 238,750 shares of the business’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 transaction, the insider now owns 189,234 shares in the company, valued at $18,438,960.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Blinn sold 16,990 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $96.44, for a total value of $1,638,515.60. Following the completion of the transaction, the director now owns 18,495 shares in the company, valued at approximately $1,783,657.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,362,293 shares of company stock worth $131,754,396. Insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in TXN. Patriot Financial Group Insurance Agency LLC raised its stake in Texas Instruments by 18.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 200 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Texas Instruments by 55.6% during 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 acquired a new stake in shares of Texas Instruments during the 2nd quarter worth approximately $112,000. Westside Investment Management Inc. raised its position in shares of Texas Instruments by 6.9% during 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 shares of Texas Instruments by 915.6% during 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. Hedge funds and other institutional investors own 83.85% 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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