Texas Instruments Inc. (TXN) Lowered to Hold at Zacks Investment Research
Texas Instruments Inc. (NASDAQ:TXN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Texas Instruments is one of the largest suppliers of analog integrated circuits. The company’s second-quarter results exceeded the Zacks Consensus Estimate. Margins expanded and should continue to expand because of the secular strength in the auto and industrial markets, a stronger mix of analog and embedded processing products, benefits of restructuring actions and more 300mm capacity coming online. The only negatives at this point appear to be strengthening competition particularly for auto chips given recent market consolidation. There is also the question of negative currency effect and a high debt load.”
Other equities analysts have also issued reports about the company. Drexel Hamilton lifted their price objective on Texas Instruments from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Jefferies Group boosted their price target on Texas Instruments from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, July 26th. Bank of America Corp. raised Texas Instruments from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, July 26th. RBC Capital Markets boosted their price target on Texas Instruments from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 26th. Finally, B. Riley raised Texas Instruments from a “neutral” rating to a “buy” rating in a research report on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $69.32.
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Texas Instruments (NASDAQ:TXN) traded up 0.267% during midday trading on Wednesday, hitting $69.435. The stock had a trading volume of 3,244,064 shares. The company has a 50-day moving average price of $69.21 and a 200-day moving average price of $64.33. Texas Instruments has a 12-month low of $46.73 and a 12-month high of $72.58. The company has a market cap of $69.66 billion, a price-to-earnings ratio of 23.395 and a beta of 1.32.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Monday, July 25th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.20 billion. Texas Instruments had a return on equity of 30.14% and a net margin of 23.89%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Equities analysts anticipate 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 business’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 transaction, the vice president now owns 174,917 shares in the company, valued at approximately $12,415,608.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin J. Ritchie sold 61,499 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $70.82, for a total value of $4,355,359.18. Following the transaction, the insider now owns 249,548 shares of the company’s stock, valued at approximately $17,672,989.36. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake 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 valued at $108,000 after buying an additional 125 shares during the period. Hudock Capital Group LLC raised its stake 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 valued at $122,000 after buying an additional 7 shares during the period. Tradewinds Capital Management LLC raised its stake 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 valued at $123,000 after buying an additional 7 shares during the period. Tortoise Investment Management LLC purchased a new stake in shares of Texas Instruments during the second quarter valued at $125,000. Finally, Advisory Services Network LLC raised its stake in shares of Texas Instruments by 1.8% in the second quarter. Advisory Services Network LLC now owns 2,221 shares of the company’s stock valued at $139,000 after buying an additional 40 shares during the period. Institutional investors own 86.92% 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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