Texas Instruments Incorporated (TXN) Issues Q4 Earnings Guidance
Texas Instruments Incorporated (NASDAQ:TXN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.01-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.01. The company issued revenue guidance of $3.57-3.87 billion, compared to the consensus revenue estimate of $3.67 billion.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.24% during trading on Tuesday, hitting $96.44. 8,004,285 shares of the stock were exchanged. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $96.74. The stock has a market cap of $95.48 billion, a P/E ratio of 24.12 and a beta of 1.24. The stock has a 50-day moving average of $88.63 and a 200 day moving average of $82.56.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Equities analysts predict that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.62 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s payout ratio is currently 50.51%.
Texas Instruments announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 74% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
TXN has been the topic of several research reports. BMO Capital Markets reiterated an outperform rating on shares of Texas Instruments in a research report on Tuesday, September 12th. BidaskClub upgraded Texas Instruments from a buy rating to a strong-buy rating in a report on Saturday, September 2nd. Jefferies Group LLC restated a buy rating on shares of Texas Instruments in a report on Monday, July 10th. Barclays PLC cut their price objective on Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Finally, Citigroup Inc. boosted their price objective on Texas Instruments from $87.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Texas Instruments presently has an average rating of Buy and a consensus price target of $87.58.
In other news, COO Brian T. Crutcher sold 50,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 201,440 shares in the company, valued at $16,334,769.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ellen Barker sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the transaction, the insider now owns 45,697 shares of the company’s stock, valued at $3,741,213.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,301 shares of company stock valued at $17,259,256. Corporate insiders own 0.96% of the company’s stock.
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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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