Texas Instruments Incorporated (NASDAQ:TXN)‘s stock had its “hold” rating reissued by investment analysts at Mizuho in a research report issued to clients and investors on Wednesday.
The analysts wrote, “We are adjusting our DecQ rev/EPS from $3.7B/$0.99 to $3.7B/$1.08 and F18E from $15.0B/ $4.15 to $15.2B/$4.43. Introducing F19E at $15.8B/$4.58. Raising our PT to $96 from $85, ~21.7x our F18E but maintaining our Neutral rating as TXN looks fairly valued, trading at a premium ~22x P/E valuation versus the semiconductor group.””
TXN has been the topic of several other research reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. Cowen and Company reaffirmed a “hold” rating and issued a $82.00 price target on shares of Texas Instruments in a research report on Friday, July 14th. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Barclays PLC raised their price target on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Finally, BidaskClub cut shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $93.85.
Shares of Texas Instruments (NASDAQ:TXN) traded down 0.64% during mid-day trading on Wednesday, hitting $95.82. The stock had a trading volume of 6,967,092 shares. The company has a market cap of $94.87 billion, a P/E ratio of 23.97 and a beta of 1.24. Texas Instruments has a 1-year low of $66.80 and a 1-year high of $96.74. The firm’s 50 day moving average price is $89.23 and its 200 day moving average price is $82.77.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. Analysts predict that Texas Instruments will post $4.14 earnings per share for the current fiscal year.
Texas Instruments declared that its board has approved a share repurchase plan on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the completion of the transaction, the insider now directly owns 252,257 shares in the company, valued at approximately $20,662,370.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellen Barker sold 15,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the transaction, the insider now owns 45,697 shares of the company’s stock, valued at $3,741,213.39. The disclosure for this sale can be found here. Insiders have sold a total of 211,301 shares of company stock valued at $17,259,256 over the last 90 days. Company insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TXN. American Beacon Advisors Inc. purchased a new position in shares of Texas Instruments during the 1st quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 200 shares in the last quarter. MV Capital Management Inc. grew its position in shares of Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares in the last quarter. ClariVest Asset Management LLC grew its position in shares of Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 100 shares in the last quarter. Finally, Balentine LLC grew its position in shares of Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 83.63% 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.