Morgan Stanley Boosts Texas Instruments (TXN) Price Target to $92.00

Texas Instruments (NASDAQ:TXN) had its price target increased by Morgan Stanley from $88.00 to $92.00 in a report issued on Wednesday. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Group reaffirmed a buy rating and issued a $96.00 price target on shares of Texas Instruments in a research note on Monday, September 25th. BidaskClub cut Texas Instruments from a strong-buy rating to a buy rating in a research note on Wednesday, September 13th. Drexel Hamilton reaffirmed a buy rating and issued a $110.00 price target (up from $95.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Oppenheimer reaffirmed a buy rating and issued a $110.00 price target (up from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Finally, Bank of America upped their price target on Texas Instruments from $100.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $94.67.

Shares of Texas Instruments (TXN) traded up $0.97 during mid-day trading on Wednesday, reaching $101.22. The company had a trading volume of 7,773,336 shares, compared to its average volume of 4,386,557. The stock has a market capitalization of $99,758.48, a PE ratio of 24.93, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. Texas Instruments has a 12 month low of $72.45 and a 12 month high of $101.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89.

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

Texas Instruments declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Mark A. Blinn sold 16,990 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total transaction of $1,638,515.60. Following the transaction, the director now directly owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 1,137,056 shares in the company, valued at $109,737,274.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,362,293 shares of company stock worth $131,754,396. Corporate insiders own 0.96% of the company’s stock.

Several large investors have recently made changes to their positions in TXN. Janus Henderson Group PLC lifted its holdings in Texas Instruments by 729.1% in the second quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock valued at $955,996,000 after acquiring an additional 10,928,410 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Texas Instruments by 864.6% in the third quarter. Alyeska Investment Group L.P. now owns 2,378,461 shares of the semiconductor company’s stock valued at $213,205,000 after acquiring an additional 2,131,883 shares during the period. Vanguard Group Inc. lifted its holdings in Texas Instruments by 2.1% in the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock valued at $6,256,728,000 after acquiring an additional 1,683,613 shares during the period. Waddell & Reed Financial Inc. lifted its holdings in Texas Instruments by 476.4% in the first quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock valued at $160,205,000 after acquiring an additional 1,643,640 shares during the period. Finally, Koch Industries Inc. lifted its holdings in Texas Instruments by 36,796.2% in the second quarter. Koch Industries Inc. now owns 1,359,255 shares of the semiconductor company’s stock valued at $1,342,000 after acquiring an additional 1,355,571 shares during the period. 83.97% of the stock is currently owned by hedge funds and other 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.

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