Zacks Investment Research Upgrades Texas Instruments (TXN) to “Buy”

Texas Instruments (NASDAQ:TXN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $124.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 6.14% from the company’s current price.

According to Zacks, “exas Instruments has outperformed the industry it belongs In the past 12 months. The company continues to prudently invest its R&D dollars in several high margin, high-growth areas of the analog and embedded processing markets. This is gradually increasing its exposure to industrial and automotive markets and dollar content at customers, while reducing exposure to volatile consumer/computing markets. Margins continue to expand on secular strength in the auto and industrial markets, a stronger mix of analog and embedded processing products and manufacturing efficiencies that include growing 300-millimeter Analog output. Off late, estimates have remained stable ahead of the company's Q4 earnings release. The company has positive record of earnings surprises in recent quarters. However, increasing competition, unfavorable currency effect and a high debt load remain concerns.”

TXN has been the subject of several other research reports. Bank of America increased their target price on Texas Instruments from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. SunTrust Banks restated a “hold” rating and set a $86.00 target price on shares of Texas Instruments in a research note on Thursday, October 12th. Oppenheimer restated a “buy” rating and set a $110.00 target price (up previously from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. BMO Capital Markets restated an “outperform” rating and set a $138.00 target price (up previously from $5.08) on shares of Texas Instruments in a research note on Friday. Finally, Robert W. Baird increased their target price on Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Texas Instruments has an average rating of “Hold” and a consensus target price of $99.29.

Shares of Texas Instruments (NASDAQ TXN) traded up $0.42 during trading hours on Friday, reaching $116.83. The company had a trading volume of 6,370,000 shares, compared to its average volume of 5,170,000. Texas Instruments has a 1 year low of $74.16 and a 1 year high of $119.98. The company has a market cap of $115,560.00, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89.

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

In related news, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $97.44, for a total transaction of $23,263,800.00. Following the completion of the transaction, the insider now owns 189,234 shares in the company, valued at approximately $18,438,960.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Blinn sold 16,990 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total value of $1,638,515.60. Following the transaction, the director now owns 18,495 shares of the company’s stock, valued at approximately $1,783,657.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,293 shares of company stock valued at $131,754,396 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Highland Private Wealth Management lifted its position in shares of Texas Instruments by 0.8% during the 2nd quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock worth $234,000 after buying an additional 25 shares during the period. Hudock Capital Group LLC lifted its position in shares of Texas Instruments by 1.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,003 shares of the semiconductor company’s stock worth $154,000 after buying an additional 26 shares during the period. Carret Asset Management LLC lifted its position in shares of Texas Instruments by 0.7% during the 2nd quarter. Carret Asset Management LLC now owns 6,043 shares of the semiconductor company’s stock worth $465,000 after buying an additional 43 shares during the period. C M Bidwell & Associates Ltd. lifted its position in shares of Texas Instruments by 0.9% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 5,041 shares of the semiconductor company’s stock worth $388,000 after buying an additional 45 shares during the period. Finally, RNC Capital Management LLC lifted its position in shares of Texas Instruments by 0.7% during the 2nd quarter. RNC Capital Management LLC now owns 7,872 shares of the semiconductor company’s stock worth $606,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 83.85% of the company’s stock.

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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.

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