Texas Instruments Receives Neutral Rating from Zacks (TXN)
Texas Instruments (NYSE:TXN)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday. They currently have a $50.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.84% from the company’s current price.
Zacks’ analyst wrote, “TI is one of the largest suppliers of analog integrated circuits. Second-quarter earnings were above the Zacks Consensus Estimate and forward guidance was in-line. Demand appears to be picking up, with the higher mix of analog and embedded processing products contributing to profits. The company’s compelling product line, market share gains, strategic refocus on high-growth areas of the analog and embedded processing markets are positives. However, we recognize that the channel is more conservative than it has been before and remain concerned about the risks associated with a high debt level. These along with the fair valuation lead us to reiterate our Neutral rating on the shares.”
Texas Instruments (NYSE:TXN) traded up 0.49% on Wednesday, hitting $47.925. The stock had a trading volume of 2,291,279 shares. Texas Instruments has a 52-week low of $38.00 and a 52-week high of $49.77. The stock’s 50-day moving average is $47.73 and its 200-day moving average is $46.. The company has a market cap of $51.163 billion and a P/E ratio of 23.03.
Texas Instruments (NYSE:TXN) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.03. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the company posted $0.42 earnings per share. Texas Instruments’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Texas Instruments will post $2.41 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Tigress Financial upgraded shares of Texas Instruments from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 24th. Separately, analysts at Sterne Agee raised their price target on shares of Texas Instruments from $44.00 to $46.00 in a research note on Tuesday, July 22nd. Finally, analysts at BMO Capital Markets raised their price target on shares of Texas Instruments from $50.00 to $55.00 in a research note on Tuesday, July 22nd. They now have an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.81.
In other Texas Instruments news, VP Teresa L. West sold 50,000 shares of Texas Instruments stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $46.60, for a total transaction of $2,330,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
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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