Texas Instruments (NASDAQ:TXN)‘s stock had its “buy” rating restated by equities research analysts at Oppenheimer in a research report issued to clients and investors on Friday. They currently have a $130.00 price target on the semiconductor company’s stock. Oppenheimer’s price target would suggest a potential upside of 11.27% from the company’s current price.
A number of other research analysts have also recently weighed in on TXN. Stifel Nicolaus lifted their price objective on Texas Instruments from $98.00 to $115.00 and gave the company a “hold” rating in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $138.00 price objective (up from $5.08) on shares of Texas Instruments in a research report on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Texas Instruments in a research report on Tuesday, September 26th. Zacks Investment Research cut Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Credit Suisse Group reissued an “in-line” rating and issued a $125.00 price target (up from $110.00) on shares of Texas Instruments in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $98.66.
Texas Instruments (TXN) traded up $0.42 during mid-day trading on Friday, hitting $116.83. The stock had a trading volume of 6,370,000 shares, compared to its average volume of 5,170,000. Texas Instruments has a 12-month low of $73.87 and a 12-month high of $119.98. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. The stock has a market cap of $115,140.00, a PE ratio of 26.61, a P/E/G ratio of 2.72 and a beta of 1.27.
Texas Instruments announced that its board has initiated a share buyback program on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, Chairman Richard K. Templeton sold 450,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.51, for a total transaction of $43,429,500.00. Following the transaction, the chairman now owns 1,137,056 shares of the company’s stock, valued at approximately $109,737,274.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $97.44, for a total value of $23,263,800.00. Following the transaction, the insider now directly owns 189,234 shares in the company, valued at approximately $18,438,960.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,362,293 shares of company stock worth $131,754,396. Corporate insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXN. Patriot Financial Group Insurance Agency LLC grew its position 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 valued at $101,000 after acquiring an additional 200 shares during the last quarter. Acrospire Investment Management LLC grew its position 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 valued at $108,000 after acquiring an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Texas Instruments in the 2nd quarter valued at $112,000. Westside Investment Management Inc. grew its position 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 valued at $122,000 after acquiring an additional 100 shares during the last quarter. Finally, Zions Bancorporation grew its position in Texas Instruments by 915.6% in the 3rd quarter. Zions Bancorporation now owns 1,564 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 1,410 shares during the last quarter. 83.85% of the stock is currently owned by hedge funds and other institutional investors.
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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