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Texas Instruments (NYSE:TXN) shares shot up 4.6% on Thursday following a better than expected earnings announcement, American Banking and Market News reports. The stock traded as high as $49.11 and last traded at $48.61, with a volume of 7,185,811 shares trading hands. The stock had previously closed at $46.46.

The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which is scheduled for Monday, May 19th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Monday, April 28th.

A number of analysts have recently weighed in on TXN shares. Analysts at Credit Suisse raised their price target on shares of Texas Instruments from $44.00 to $48.00 in a research note on Thursday. Separately, analysts at Barclays raised their price target on shares of Texas Instruments from $40.00 to $43.00 in a research note on Thursday. Finally, analysts at Robert W. Baird raised their price target on shares of Texas Instruments from $42.00 to $52.00 in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. Texas Instruments presently has a consensus rating of “Hold” and an average price target of $48.30.

The stock’s 50-day moving average is $46.14 and its 200-day moving average is $43.44. The company has a market cap of $52.557 billion and a price-to-earnings ratio of 24.32.

Texas Instruments Inc (NYSE:TXN) designs and makes semiconductors that the Company sells to electronics designers and manufacturers all over the world.

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