Texas Instruments Incorporated (TXN) Receives “Outperform” Rating from Royal Bank Of Canada
Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $100.00 target price on the semiconductor company’s stock, up from their previous target price of $96.00. Royal Bank Of Canada’s target price indicates a potential upside of 5.06% from the company’s previous close.
Several other equities analysts have also recently weighed in on TXN. Jefferies Group LLC reaffirmed a “buy” rating on shares of Texas Instruments in a research note on Monday, July 10th. Cowen and Company reaffirmed a “hold” rating and set a $82.00 target price on shares of Texas Instruments in a research note on Friday, July 14th. Zacks Investment Research raised Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Barclays PLC lifted their target price on Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Finally, BidaskClub cut Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $87.58.
Texas Instruments (TXN) opened at 95.18 on Monday. Texas Instruments has a one year low of $66.80 and a one year high of $95.40. The stock’s 50 day moving average is $88.24 and its 200 day moving average is $82.41. The stock has a market capitalization of $94.23 billion, a price-to-earnings ratio of 23.81 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Texas Instruments will post $4.13 EPS for the current year.
Texas Instruments announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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In other Texas Instruments news, insider Kevin J. Ritchie sold 105,396 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares in the company, valued at $20,662,370.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock worth $17,259,256 over the last quarter. Company insiders own 0.96% of the company’s stock.
Large investors have recently made changes to their positions in the business. American Beacon Advisors Inc. acquired a new position in Texas Instruments in the first quarter worth $101,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Texas Instruments by 18.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 200 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Texas Instruments by 8.4% during the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 100 shares during the period. Balentine LLC lifted its stake in shares of Texas Instruments by 6.5% during the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 80 shares during the period. Finally, MV Capital Management Inc. lifted its stake in shares of Texas Instruments by 7.6% during the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 83.66% 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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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