Texas Instruments Incorporated (TXN) Given Hold Rating at SunTrust Banks, Inc.
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “hold” rating reissued by SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They currently have a $86.00 price target on the semiconductor company’s stock. SunTrust Banks, Inc.’s target price indicates a potential downside of 7.15% from the company’s current price.
Several other research analysts have also issued reports on TXN. B. Riley reiterated a “neutral” rating and issued a $89.00 price target on shares of Texas Instruments in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price target on shares of Texas Instruments in a research note on Wednesday, October 4th. Sanford C. Bernstein restated an “outperform” rating and set a $95.00 price objective on shares of Texas Instruments in a research note on Tuesday, September 26th. Jefferies Group LLC restated a “buy” rating and set a $96.00 price objective on shares of Texas Instruments in a research note on Monday, September 25th. Finally, Cowen and Company restated a “market perform” rating and set a $85.00 price objective (up from $82.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $86.51.
Texas Instruments (NASDAQ TXN) traded down 0.27% during midday trading on Thursday, reaching $92.62. 3,537,901 shares of the company’s stock traded hands. The stock has a market cap of $91.70 billion, a P/E ratio of 23.17 and a beta of 1.24. The company’s 50-day moving average price is $85.76 and its 200-day moving average price is $81.76. Texas Instruments has a 52-week low of $66.80 and a 52-week high of $93.31.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. Texas Instruments’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. On average, equities analysts predict that Texas Instruments will post $4.13 EPS for the current fiscal year.
Texas Instruments announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
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In related news, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $81.09, for a total value of $4,054,500.00. Following the transaction, the chief operating officer now owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert E. Sanchez sold 26,905 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the completion of the transaction, the director now directly owns 27,565 shares in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TXN. BlackRock Inc. boosted its holdings in shares of Texas Instruments by 1,924.6% in the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after buying an additional 61,521,990 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Texas Instruments by 729.1% during the second quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock valued at $955,996,000 after purchasing an additional 10,928,410 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Texas Instruments by 4.7% during the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after purchasing an additional 3,551,400 shares in the last quarter. Waddell & Reed Financial Inc. lifted its holdings in Texas Instruments by 476.4% during the first quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock valued at $160,205,000 after purchasing an additional 1,643,640 shares in the last quarter. Finally, Koch Industries Inc. lifted its holdings in Texas Instruments by 36,796.2% during the second quarter. Koch Industries Inc. now owns 1,359,255 shares of the semiconductor company’s stock valued at $1,342,000 after purchasing an additional 1,355,571 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors.
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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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