Texas Instruments (NASDAQ:TXN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. They presently have a $144.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.46% from the stock’s current price.
According to Zacks, “Texas Instruments is benefiting from growth in the personal electronics market owing to coronavirus-led increasing work-from-home trend. Further, growth in industrial market on the back of strong momentum across medical space remains positive. The company’s short lead times and high availability of products for immediate shipment during the ongoing pandemic are major tailwinds. Further, the company remains confident on its long-lived products portfolio and efficient manufacturing strategies. Also, continuous returns to shareholders are likely to help the stock to gain investors’ confidence. However, softness in both Analog and Embedded Processing segments is a concern. Also, sluggish automotive market due to coronavirus pandemic is an overhang. Notably, the stock has underperformed the industry it belongs to on a year-to-date basis.”
A number of other analysts have also weighed in on TXN. Mizuho increased their price objective on shares of Texas Instruments from $111.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Credit Suisse Group raised their target price on shares of Texas Instruments from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. BMO Capital Markets raised their target price on shares of Texas Instruments from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. BNP Paribas lowered shares of Texas Instruments from a “neutral” rating to an “underperform” rating and set a $108.00 target price on the stock. in a research report on Thursday, July 9th. Finally, Charter Equity raised shares of Texas Instruments from a “market perform” rating to a “market outperform” rating in a report on Wednesday, July 22nd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $134.25.
Texas Instruments stock traded down $0.43 during midday trading on Tuesday, reaching $136.55. The stock had a trading volume of 51,268 shares, compared to its average volume of 5,630,013. The company has a quick ratio of 2.94, a current ratio of 3.92 and a debt-to-equity ratio of 0.82. Texas Instruments has a 52-week low of $93.09 and a 52-week high of $148.37. The firm has a market cap of $125.47 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.89 and a beta of 1.14. The company has a fifty day moving average of $138.25 and a 200 day moving average of $122.33.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 21st. The semiconductor company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.60. Texas Instruments had a net margin of 36.83% and a return on equity of 60.61%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company posted $1.36 EPS. Equities research analysts predict that Texas Instruments will post 5.05 EPS for the current year.
In related news, Director Carrie Smith Cox sold 26,905 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $130.00, for a total transaction of $3,497,650.00. Following the completion of the transaction, the director now owns 46,221 shares of the company’s stock, valued at $6,008,730. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Bing Xie sold 53,800 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $130.92, for a total transaction of $7,043,496.00. Following the transaction, the senior vice president now directly owns 76,096 shares of the company’s stock, valued at approximately $9,962,488.32. The disclosure for this sale can be found here. Insiders have sold 236,495 shares of company stock valued at $31,419,345 over the last quarter. Insiders own 0.73% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perennial Advisors LLC bought a new position in Texas Instruments in the first quarter worth approximately $26,000. Toth Financial Advisory Corp acquired a new stake in shares of Texas Instruments in the second quarter valued at about $31,000. HHM Wealth Advisors LLC acquired a new stake in shares of Texas Instruments in the first quarter valued at about $34,000. Pathstone Family Office LLC increased its stake in shares of Texas Instruments by 65.0% in the first quarter. Pathstone Family Office LLC now owns 353 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 139 shares during the period. Finally, Evolution Wealth Advisors LLC increased its stake in shares of Texas Instruments by 89.7% in the second quarter. Evolution Wealth Advisors LLC now owns 277 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 131 shares during the period. 82.91% of the stock is 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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