Texas Instruments Inc. (TXN) Given New $69.00 Price Target at Cowen and Company
Texas Instruments Inc. (NASDAQ:TXN) had its price target hoisted by analysts at Cowen and Company from $60.00 to $69.00 in a research report issued on Tuesday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective suggests a potential downside of 2.64% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Citigroup Inc. reissued a “buy” rating on shares of Texas Instruments in a research report on Tuesday, April 19th. Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, April 27th. Jefferies Group lifted their price target on shares of Texas Instruments from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, April 28th. Drexel Hamilton lifted their price target on shares of Texas Instruments from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, April 28th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Texas Instruments in a research report on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.44.
Shares of Texas Instruments (NASDAQ:TXN) traded down 0.13% during trading on Tuesday, hitting $70.87. 3,673,887 shares of the stock traded hands. The stock has a 50 day moving average price of $69.46 and a 200-day moving average price of $63.71. The stock has a market cap of $71.10 billion, a price-to-earnings ratio of 23.88 and a beta of 1.32. Texas Instruments has a 1-year low of $46.73 and a 1-year high of $72.58.
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Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Texas Instruments had a net margin of 23.89% and a return on equity of 30.14%. The business earned $3.27 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the firm posted $0.65 EPS. Texas Instruments’s revenue was up 1.3% compared to the same quarter last year. Equities analysts forecast that Texas Instruments will post $3.06 EPS for the current year.
In other Texas Instruments news, insider Bing Xie sold 11,565 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.12, for a total value of $799,372.80. Following the completion of the transaction, the insider now owns 187,370 shares in the company, valued at $12,951,014.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen A. Anderson sold 103,125 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $70.08, for a total value of $7,227,000.00. Following the completion of the transaction, the insider now owns 292,446 shares of the company’s stock, valued at approximately $20,494,615.68. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TXN. GSA Capital Partners LLP purchased a new position in Texas Instruments during the fourth quarter worth about $3,929,000. Marshall Wace LLP purchased a new position in Texas Instruments during the fourth quarter worth about $4,488,000. Suntrust Banks Inc. increased its position in Texas Instruments by 2.2% in the fourth quarter. Suntrust Banks Inc. now owns 509,651 shares of the company’s stock worth $27,932,000 after buying an additional 10,945 shares during the period. Marvin & Palmer Associates Inc. increased its position in Texas Instruments by 16.7% in the fourth quarter. Marvin & Palmer Associates Inc. now owns 42,625 shares of the company’s stock worth $2,336,000 after buying an additional 6,100 shares during the period. Finally, Shell Asset Management Co. increased its position in Texas Instruments by 14.9% in the second quarter. Shell Asset Management Co. now owns 169,435 shares of the company’s stock worth $10,615,000 after buying an additional 22,027 shares during the period. Institutional investors and hedge funds own 86.89% 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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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