Texas Instruments (TXN) Earns Buy Rating from Citigroup
Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein set a $130.00 target price on Texas Instruments and gave the company a buy rating in a research note on Wednesday, July 25th. B. Riley raised their price target on Texas Instruments from $115.00 to $123.00 and gave the stock a neutral rating in a research report on Wednesday, July 25th. Atlantic Securities assumed coverage on Texas Instruments in a research report on Tuesday, July 10th. They issued an overweight rating and a $130.00 price target on the stock. Zacks Investment Research lowered Texas Instruments from a strong-buy rating to a hold rating in a research report on Saturday, June 30th. Finally, BidaskClub lowered Texas Instruments from a sell rating to a strong sell rating in a research report on Friday, September 14th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Texas Instruments currently has a consensus rating of Hold and an average price target of $117.11.
Shares of NASDAQ TXN traded down $1.21 during midday trading on Wednesday, hitting $90.56. The stock had a trading volume of 15,852,483 shares, compared to its average volume of 8,968,744. The stock has a market capitalization of $89.22 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. Texas Instruments has a fifty-two week low of $87.90 and a fifty-two week high of $120.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.12 and a current ratio of 3.97.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, October 30th. Texas Instruments’s payout ratio is 57.94%.
Texas Instruments announced that its Board of Directors has approved a share repurchase plan on Thursday, September 20th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 11.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total value of $2,824,222.90. Following the sale, the insider now directly owns 131,153 shares in the company, valued at $14,630,117.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.
Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Texas Instruments in the first quarter valued at about $338,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of Texas Instruments in the first quarter valued at about $187,000. Summit Trail Advisors LLC increased its position in shares of Texas Instruments by 30.5% in the first quarter. Summit Trail Advisors LLC now owns 6,938 shares of the semiconductor company’s stock valued at $595,000 after acquiring an additional 1,622 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Texas Instruments by 2.9% in the first quarter. Brown Advisory Inc. now owns 59,452 shares of the semiconductor company’s stock valued at $6,178,000 after acquiring an additional 1,702 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Texas Instruments by 108.2% in the second quarter. Private Trust Co. NA now owns 8,895 shares of the semiconductor company’s stock valued at $980,000 after acquiring an additional 4,622 shares during the last quarter. Institutional investors own 84.23% of the company’s stock.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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