Cleveland Research Initiates Coverage on Texas Instruments (TXN)
Equities research analysts at Cleveland Research assumed coverage on shares of Texas Instruments (NYSE:TXN) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Texas Instruments (NYSE:TXN) traded down 1.21% during mid-day trading on Thursday, hitting $47.46. The stock had a trading volume of 1,298,850 shares. Texas Instruments has a 52 week low of $34.51 and a 52 week high of $49.77. The stock’s 50-day moving average is $46.9 and its 200-day moving average is $45.09. The company has a market cap of $51.226 billion and a P/E ratio of 23.63.
Texas Instruments (NYSE:TXN) last released its earnings data on Wednesday, April 23rd. 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. Analysts expect that Texas Instruments will post $2.32 EPS for the current fiscal year.
TXN has been the subject of a number of other recent research reports. Analysts at Argus upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Texas Instruments in a research note on Wednesday, June 4th. They now have a $49.00 price target on the stock. Finally, analysts at ING Group upgraded shares of Texas Instruments to an “outperform” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.30.
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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