Texas Instruments (TXN) Given New $92.00 Price Target at Morgan Stanley

Texas Instruments (NASDAQ:TXN) had its price target upped by research analysts at Morgan Stanley from $88.00 to $92.00 in a report released on Wednesday. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential downside of 6.94% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Robert W. Baird increased their price objective on shares of Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Deutsche Bank increased their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Bank of America increased their price objective on shares of Texas Instruments from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $94.16.

Shares of Texas Instruments (NASDAQ TXN) traded up $0.43 on Wednesday, hitting $98.86. 5,199,867 shares of the stock traded hands, compared to its average volume of 4,588,335. The company has a market capitalization of $97,010.00, a price-to-earnings ratio of 24.34, a PEG ratio of 2.36 and a beta of 1.27. Texas Instruments has a 52 week low of $71.77 and a 52 week high of $99.79. 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 issued its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. sell-side analysts expect that Texas Instruments will post 4.36 EPS for the current year.

Texas Instruments announced that its Board of Directors has initiated a share repurchase program on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, Director Mark A. Blinn sold 16,990 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,783,657.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the firm’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 transaction of $23,263,800.00. Following the completion of the sale, the insider now owns 189,234 shares in the company, valued at $18,438,960.96. The disclosure for this sale can be found here. Insiders have sold 1,362,293 shares of company stock worth $131,754,396 over the last quarter. Corporate insiders own 0.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AXA boosted its stake in shares of Texas Instruments by 8.8% in the 3rd quarter. AXA now owns 1,287,487 shares of the semiconductor company’s stock valued at $115,411,000 after purchasing an additional 104,112 shares in the last quarter. Burgundy Asset Management Ltd. acquired a new stake in shares of Texas Instruments in the 3rd quarter valued at approximately $120,341,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Texas Instruments in the 3rd quarter valued at approximately $837,000. Public Employees Retirement System of Ohio boosted its stake in shares of Texas Instruments by 1.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 716,876 shares of the semiconductor company’s stock valued at $64,261,000 after purchasing an additional 7,426 shares in the last quarter. Finally, Orleans Capital Management Corp LA acquired a new stake in shares of Texas Instruments in the 3rd quarter valued at approximately $377,000. Institutional investors own 83.97% of the company’s stock.

WARNING: This piece of content was originally published by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/13/texas-instruments-txn-given-new-92-00-price-target-at-morgan-stanley.html.

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)