Texas Instruments Inc. (TXN) Downgraded to Neutral at B. Riley
Texas Instruments Inc. (NASDAQ:TXN) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Texas Instruments from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, July 27th. MKM Partners raised their price target on Texas Instruments from $59.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, July 26th. Cowen and Company lifted their target price on Texas Instruments from $60.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, July 26th. Drexel Hamilton lifted their target price on Texas Instruments from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Finally, Sanford C. Bernstein lifted their target price on Texas Instruments from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $69.32.
Texas Instruments (NASDAQ:TXN) traded down 1.439% during mid-day trading on Tuesday, hitting $67.475. The company had a trading volume of 1,778,580 shares. Texas Instruments has a 52 week low of $46.73 and a 52 week high of $72.58. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.734 and a beta of 1.32. The firm’s 50 day moving average is $69.37 and its 200 day moving average is $63.97.
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Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Texas Instruments had a return on equity of 30.14% and a net margin of 23.89%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. On average, equities research analysts predict that Texas Instruments will post $3.06 EPS for the current year.
In other Texas Instruments news, VP Darla H. Whitaker sold 160,403 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $70.98, for a total transaction of $11,385,404.94. Following the completion of the sale, the vice president now owns 174,917 shares in the company, valued at $12,415,608.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen A. Anderson sold 103,125 shares of the company’s 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 sale, 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. Company insiders own 1.02% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TXN. Parkside Financial Bank & Trust increased its position in shares of Texas Instruments by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,723 shares of the company’s stock worth $108,000 after buying an additional 125 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of Texas Instruments by 0.4% in the second quarter. Hudock Capital Group LLC now owns 1,957 shares of the company’s stock worth $122,000 after buying an additional 7 shares during the last quarter. Tradewinds Capital Management LLC increased its position in shares of Texas Instruments by 0.4% in the second quarter. Tradewinds Capital Management LLC now owns 1,966 shares of the company’s stock worth $123,000 after buying an additional 7 shares during the last quarter. Tortoise Investment Management LLC acquired a new position in shares of Texas Instruments during the second quarter worth about $125,000. Finally, Carroll Financial Associates Inc. increased its position in shares of Texas Instruments by 7.7% in the third quarter. Carroll Financial Associates Inc. now owns 2,212 shares of the company’s stock worth $155,000 after buying an additional 158 shares during the last quarter. Institutional investors own 86.88% of the company’s stock.
About Texas Instruments
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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