Royal Bank of Canada Reiterates “Buy” Rating for Texas Instruments (TXN)

Texas Instruments (NASDAQ:TXN)‘s stock had its “buy” rating restated by analysts at Royal Bank of Canada in a research report issued on Thursday. They currently have a $112.00 price target on the semiconductor company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 3.43% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a “hold” rating and set a $96.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price objective (up from $85.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. B. Riley reiterated a “hold” rating and set a $97.00 price target (up from $89.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. BidaskClub lowered shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “strong-buy” rating and set a $107.00 price target on the stock in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Texas Instruments has an average rating of “Buy” and a consensus target price of $95.51.

Shares of Texas Instruments (NASDAQ:TXN) traded down $0.14 during midday trading on Thursday, hitting $108.29. 5,460,417 shares of the stock were exchanged, compared to its average volume of 4,550,000. The firm has a market cap of $106,730.00, a P/E ratio of 24.67, a P/E/G ratio of 2.41 and a beta of 1.27. 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 has a fifty-two week low of $72.47 and a fifty-two week high of $109.21.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. equities research analysts forecast that Texas Instruments will post 4.36 earnings per share for the current fiscal year.

Texas Instruments announced that its board has approved a share repurchase program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Texas Instruments news, Chairman Richard K. Templeton sold 450,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the sale, the chairman now owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the company’s stock in a transaction dated 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 directly owns 189,234 shares in the company, valued at approximately $18,438,960.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,362,293 shares of company stock worth $131,754,396. 0.96% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC raised its position in shares of Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 200 shares during the last quarter. MV Capital Management Inc. raised its position in shares of Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 93 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Texas Instruments in the second quarter valued at approximately $112,000. Finally, Westside Investment Management Inc. raised its position in shares of Texas Instruments by 6.9% in the second quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 100 shares during the last quarter. 83.82% of the stock is currently owned by institutional investors.

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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)

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