Texas Instruments (NASDAQ:TXN) was downgraded by BNP Paribas from a “neutral” rating to an “underperform” rating in a research note issued on Thursday, Briefing.com Automated Import reports.
A number of other research firms have also recently issued reports on TXN. Longbow Research assumed coverage on shares of Texas Instruments in a research note on Wednesday, April 22nd. They set a “neutral” rating for the company. Morgan Stanley raised their target price on shares of Texas Instruments from $94.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 16th. Oppenheimer restated a “buy” rating and set a $120.00 target price (down previously from $140.00) on shares of Texas Instruments in a research note on Wednesday, April 22nd. Barclays cut shares of Texas Instruments from an “equal weight” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Friday, April 17th. Finally, Sanford C. Bernstein dropped their price objective on shares of Texas Instruments from $120.00 to $100.00 and set a “market perform” rating for the company in a research note on Thursday, March 19th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $123.74.
Texas Instruments stock traded down $0.57 during mid-day trading on Thursday, hitting $128.69. 475,781 shares of the company’s stock traded hands, compared to its average volume of 4,664,375. Texas Instruments has a fifty-two week low of $93.09 and a fifty-two week high of $135.70. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 3.45 and a beta of 1.13. The firm has a 50 day simple moving average of $123.45 and a two-hundred day simple moving average of $119.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.49 and a quick ratio of 2.65.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, April 21st. The semiconductor company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.23. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Texas Instruments had a net margin of 35.17% and a return on equity of 57.45%. Texas Instruments’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. On average, research analysts anticipate that Texas Instruments will post 3.99 earnings per share for the current fiscal year.
In related news, VP Ahmad Bahai sold 8,575 shares of Texas Instruments stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $115.60, for a total transaction of $991,270.00. Following the sale, the vice president now directly owns 28,258 shares of the company’s stock, valued at approximately $3,266,624.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in TXN. Wellington Management Group LLP grew its holdings in shares of Texas Instruments by 115.6% during the 1st quarter. Wellington Management Group LLP now owns 21,559,378 shares of the semiconductor company’s stock valued at $2,154,430,000 after purchasing an additional 11,560,600 shares during the last quarter. Norges Bank bought a new stake in shares of Texas Instruments during the 4th quarter valued at approximately $1,343,608,000. Bank of New York Mellon Corp grew its holdings in shares of Texas Instruments by 30.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,416,637 shares of the semiconductor company’s stock valued at $1,440,655,000 after purchasing an additional 3,357,505 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Texas Instruments by 46.0% during the 1st quarter. Invesco Ltd. now owns 7,091,006 shares of the semiconductor company’s stock valued at $708,603,000 after purchasing an additional 2,234,895 shares during the last quarter. Finally, Sands Capital Management LLC grew its holdings in shares of Texas Instruments by 53.2% during the 4th quarter. Sands Capital Management LLC now owns 4,166,673 shares of the semiconductor company’s stock valued at $534,542,000 after purchasing an additional 1,447,749 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.
About Texas Instruments
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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