Texas Instruments Inc. (NASDAQ:TXN) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a report released on Tuesday.
Other research analysts also recently issued research reports about the company. Royal Bank Of Canada lifted their price objective on Texas Instruments from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. Robert W. Baird upgraded Texas Instruments from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $80.00 in a report on Wednesday, September 14th. RBC Capital Markets reiterated an “outperform” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Texas Instruments in a report on Monday, August 22nd. Exane BNP Paribas upgraded Texas Instruments from an “underperform” rating to a “neutral” rating in a report on Friday, August 5th. Finally, Mizuho lifted their price objective on Texas Instruments from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. Texas Instruments presently has a consensus rating of “Hold” and a consensus target price of $69.32.
Shares of Texas Instruments (NASDAQ:TXN) traded down 1.468% during midday trading on Tuesday, hitting $67.455. The company had a trading volume of 1,767,020 shares. The firm’s 50 day moving average is $69.37 and its 200 day moving average is $63.97. Texas Instruments has a 52 week low of $46.73 and a 52 week high of $72.58. The company has a market capitalization of $67.67 billion, a P/E ratio of 22.727 and a beta of 1.32.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Monday, July 25th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. Texas Instruments had a return on equity of 30.14% and a net margin of 23.89%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Texas Instruments will post $3.06 EPS for the current year.
In other Texas Instruments news, insider Kevin J. Ritchie sold 61,499 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $70.82, for a total transaction of $4,355,359.18. Following the completion of the sale, the insider now directly owns 249,548 shares in the company, valued at approximately $17,672,989.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Darla H. Whitaker sold 160,403 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $70.98, for a total transaction of $11,385,404.94. Following the sale, the vice president now owns 174,917 shares of the company’s stock, valued at $12,415,608.66. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Texas Instruments by 3.2% in the second quarter. Vanguard Group Inc. now owns 72,913,570 shares of the company’s stock worth $4,568,036,000 after buying an additional 2,282,169 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Texas Instruments by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 29,773,662 shares of the company’s stock worth $1,865,321,000 after buying an additional 681,785 shares in the last quarter. Capital International Investors raised its stake in shares of Texas Instruments by 1.8% in the second quarter. Capital International Investors now owns 26,293,224 shares of the company’s stock worth $1,647,270,000 after buying an additional 469,890 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Texas Instruments by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 19,196,077 shares of the company’s stock worth $1,202,634,000 after buying an additional 1,261,555 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Texas Instruments by 0.7% in the second quarter. BlackRock Fund Advisors now owns 13,605,970 shares of the company’s stock worth $852,414,000 after buying an additional 92,490 shares in the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.
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