Jefferies Group LLC Reiterates “Buy” Rating for Texas Instruments Incorporated (TXN)
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a report issued on Monday. They presently have a $96.00 price objective on the semiconductor company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 8.76% from the stock’s current price.
A number of other equities research analysts have also commented on TXN. B. Riley reiterated a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a report on Monday, July 31st. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 20th. SunTrust Banks, Inc. reissued a “hold” rating and set a $86.00 price objective (up from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company reissued a “market perform” rating and set a $85.00 price objective (up from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Finally, Loop Capital reissued a “hold” rating and set a $84.00 price objective (up from $79.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $86.25.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business posted $0.76 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year.
Texas Instruments declared that its Board of Directors has authorized a stock buyback program on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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In related news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the sale, the director now directly owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the completion of the sale, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The disclosure for this sale can be found here. Insiders sold a total of 211,301 shares of company stock worth $17,259,256 in the last quarter. Company insiders own 0.96% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new stake in Texas Instruments during the 1st quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 200 shares in the last quarter. MV Capital Management Inc. grew its holdings in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 93 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 100 shares in the last quarter. Finally, Balentine LLC grew its holdings in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 80 shares in the last quarter. 83.68% of the stock is owned by institutional investors.
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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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