Texas Instruments (TXN) Receives “Buy” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Texas Instruments (NASDAQ:TXN) in a report released on Thursday. The brokerage currently has a $112.00 price objective on the semiconductor company’s stock.

Several other research firms have also recently issued reports on TXN. BidaskClub raised Texas Instruments from a buy rating to a strong-buy rating in a research report on Thursday, December 21st. Morgan Stanley upped their price objective on Texas Instruments from $88.00 to $92.00 and gave the company an equal weight rating in a research report on Wednesday, December 13th. KeyCorp reaffirmed a hold rating on shares of Texas Instruments in a research report on Friday, November 24th. Credit Suisse Group reaffirmed an outperform rating and issued a $110.00 price objective (up from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $110.00 price objective (up from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $95.51.

Texas Instruments (NASDAQ TXN) traded up $0.83 during mid-day trading on Thursday, reaching $109.12. The company had a trading volume of 5,217,033 shares, compared to its average volume of 4,389,491. The company has a market cap of $107,544.41, a PE ratio of 25.50, a PEG ratio of 2.49 and a beta of 1.27. Texas Instruments has a fifty-two week low of $72.47 and a fifty-two week high of $109.23. 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 (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. The business 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 quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. analysts predict that Texas Instruments will post 4.36 EPS for the current year.

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

In related news, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $97.44, for a total value of $23,263,800.00. Following the transaction, the insider now directly owns 189,234 shares of the company’s stock, valued at approximately $18,438,960.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brian T. Crutcher sold 68,687 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.10, for a total value of $6,600,820.70. Following the completion of the sale, the chief operating officer now owns 346,428 shares of the company’s stock, valued at approximately $33,291,730.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,362,293 shares of company stock worth $131,754,396. 0.96% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of TXN. Patriot Financial Group Insurance Agency LLC increased its stake in Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after buying 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 second 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. Acrospire Investment Management LLC grew its position in shares of Texas Instruments by 55.6% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Texas Instruments during the second quarter valued at about $112,000. Finally, Westside Investment Management Inc. grew its position in shares of Texas Instruments by 6.9% during the second quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.

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Texas Instruments Company Profile

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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