Texas Instruments Inc. (NASDAQ:TXN) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.
A number of other analysts have also recently commented on TXN. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Texas Instruments in a report on Wednesday, June 15th. Royal Bank Of Canada dropped their target price on shares of Texas Instruments from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Zacks Investment Research cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Cowen and Company boosted their target price on shares of Texas Instruments from $60.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, July 26th. Finally, Mizuho boosted their target price on shares of Texas Instruments from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.32.
Shares of Texas Instruments (NASDAQ:TXN) traded down 1.58% during mid-day trading on Tuesday, hitting $67.38. 1,674,103 shares of the stock traded hands. The company has a market capitalization of $67.60 billion, a PE ratio of 22.70 and a beta of 1.32. The company’s 50-day moving average price is $69.37 and its 200 day moving average price is $63.97. Texas Instruments has a 1-year low of $46.73 and a 1-year high of $72.58.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Monday, July 25th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. Texas Instruments had a net margin of 23.89% and a return on equity of 30.14%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Texas Instruments will post $3.06 EPS for the current fiscal year.
In related news, insider Stephen A. Anderson sold 103,125 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $70.08, for a total transaction of $7,227,000.00. Following the sale, the insider now owns 292,446 shares in the company, valued at approximately $20,494,615.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin J. Ritchie sold 61,499 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $70.82, for a total value of $4,355,359.18. Following the sale, the insider now owns 249,548 shares in the company, valued at approximately $17,672,989.36. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Palisade Capital Management LLC NJ raised its stake in Texas Instruments by 0.8% in the first quarter. Palisade Capital Management LLC NJ now owns 26,500 shares of the company’s stock worth $1,522,000 after buying an additional 200 shares during the last quarter. Menta Capital LLC acquired a new stake in Texas Instruments during the first quarter worth $276,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in Texas Instruments by 8.1% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,180 shares of the company’s stock worth $3,054,000 after buying an additional 3,998 shares during the last quarter. Credit Agricole S A raised its stake in Texas Instruments by 16.4% in the first quarter. Credit Agricole S A now owns 1,201,479 shares of the company’s stock worth $68,988,000 after buying an additional 169,639 shares during the last quarter. Finally, Willis Investment Counsel raised its stake in Texas Instruments by 10.1% in the first quarter. Willis Investment Counsel now owns 188,780 shares of the company’s stock worth $10,840,000 after buying an additional 17,380 shares during the last quarter. Institutional investors and hedge funds own 86.88% 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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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