BidaskClub upgraded shares of Texas Instruments Incorporated (NASDAQ:TXN) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.
TXN has been the topic of a number of other reports. BMO Capital Markets reaffirmed an outperform rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Texas Instruments from a hold rating to a sell rating in a research report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a buy rating on shares of Texas Instruments in a research report on Monday, July 10th. Barclays PLC dropped their target price on shares of Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Finally, Citigroup Inc. increased their target price on shares of Texas Instruments from $87.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $83.01.
Texas Instruments (TXN) opened at 85.83 on Wednesday. The firm has a 50-day moving average of $82.00 and a 200 day moving average of $80.72. Texas Instruments has a 12-month low of $66.80 and a 12-month high of $87.24. The stock has a market capitalization of $84.97 billion, a price-to-earnings ratio of 21.47 and a beta of 1.20.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business earned $0.76 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Texas Instruments will post $4.13 earnings per share for the current fiscal year.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of Texas Instruments stock in a transaction dated Monday, July 31st. The shares were 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 owns 201,440 shares in the company, valued at $16,334,769.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the transaction, the insider now owns 252,257 shares of the company’s stock, valued at approximately $20,662,370.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,301 shares of company stock valued at $17,259,256. 0.96% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Perigon Wealth Management LLC raised its position in Texas Instruments by 43.9% during the second quarter. Perigon Wealth Management LLC now owns 2,122 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 647 shares during the last quarter. Intl Fcstone Inc. acquired a new position in Texas Instruments during the second quarter worth about $309,000. Gs Investments Inc. acquired a new position in Texas Instruments during the second quarter worth about $4,833,000. Navellier & Associates Inc raised its position in Texas Instruments by 50.3% during the second quarter. Navellier & Associates Inc now owns 46,009 shares of the semiconductor company’s stock worth $3,539,000 after acquiring an additional 15,394 shares during the last quarter. Finally, RNC Capital Management LLC raised its position in Texas Instruments by 0.7% during the second quarter. RNC Capital Management LLC now owns 7,872 shares of the semiconductor company’s stock worth $606,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 83.68% of the company’s stock.
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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