Texas Instruments (TXN) Earns “Buy” Rating from Royal Bank of Canada

Texas Instruments (NASDAQ:TXN)‘s stock had its “buy” rating reissued by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. They presently have a $112.00 target price on the semiconductor company’s stock. Royal Bank of Canada’s target price points to a potential upside of 3.43% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. Morgan Stanley increased their target price on Texas Instruments from $88.00 to $92.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. Robert W. Baird increased their target price on Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Deutsche Bank increased their target price on Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Bank of America increased their target price on Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.51.

Texas Instruments (NASDAQ TXN) traded down $0.14 during trading on Thursday, hitting $108.29. The company’s stock had a trading volume of 5,460,417 shares, compared to its average volume of 4,550,000. The company has a market cap of $106,730.00, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.27. Texas Instruments has a 52-week low of $72.47 and a 52-week high of $109.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. sell-side analysts expect that Texas Instruments will post 4.36 earnings per share for the current fiscal year.

Texas Instruments declared that its Board of Directors has authorized a stock 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 repurchase up to 74% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, SVP Bing Xie sold 17,500 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the completion of the sale, the senior vice president now directly owns 78,102 shares of the company’s stock, valued at approximately $7,539,186.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 16,990 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $96.44, for a total value of $1,638,515.60. Following the sale, the director now directly owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. Insiders own 0.96% of the company’s stock.

Several institutional investors have recently made changes to their positions in TXN. Patriot Financial Group Insurance Agency LLC increased its holdings in Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the last quarter. MV Capital Management Inc. increased its holdings in Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Texas Instruments by 55.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Texas Instruments in the 2nd quarter worth about $112,000. Finally, Westside Investment Management Inc. increased its holdings in Texas Instruments by 6.9% in the 2nd quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 100 shares during the last quarter. 83.82% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Texas Instruments (NASDAQ:TXN)

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