Texas Instruments Incorporated (TXN) Announces Earnings Results
Texas Instruments Incorporated (NASDAQ:TXN) released its quarterly earnings results on Tuesday. The semiconductor company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14, Briefing.com reports. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. Texas Instruments’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Texas Instruments updated its Q4 guidance to $1.01-1.15 EPS.
Shares of Texas Instruments (NASDAQ:TXN) traded up 0.24% during trading on Tuesday, reaching $96.44. The company had a trading volume of 8,001,559 shares. Texas Instruments has a 1-year low of $66.80 and a 1-year high of $96.74. The stock has a market capitalization of $95.48 billion, a price-to-earnings ratio of 24.12 and a beta of 1.24. The company’s 50 day moving average is $88.63 and its 200-day moving average is $82.56.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.57%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. Texas Instruments’s dividend payout ratio is presently 50.51%.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Sanchez sold 26,905 shares of the company’s stock in a transaction dated 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 owns 27,565 shares of the company’s stock, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is owned by corporate insiders.
Texas Instruments declared that its Board of Directors has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
A number of research analysts have commented on the company. B. Riley reaffirmed a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research report on Monday, July 31st. KeyCorp reaffirmed a “hold” rating on shares of Texas Instruments in a research report on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 price target on shares of Texas Instruments in a research report on Tuesday, September 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price target (up previously from $96.00) on shares of Texas Instruments in a research report on Monday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 price target on shares of Texas Instruments in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.58.
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.
Receive News & Ratings for Texas Instruments Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.