Texas Instruments Incorporated (NASDAQ:TXN) – Equities researchers at Jefferies Financial Group reduced their FY2018 earnings estimates for shares of Texas Instruments in a research report issued on Wednesday, October 24th. Jefferies Financial Group analyst M. Lipacis now forecasts that the semiconductor company will earn $5.43 per share for the year, down from their prior estimate of $5.58. Jefferies Financial Group currently has a “Buy” rating and a $157.00 target price on the stock. Jefferies Financial Group also issued estimates for Texas Instruments’ Q4 2018 earnings at $1.24 EPS, FY2019 earnings at $6.07 EPS, Q1 2020 earnings at $1.65 EPS, Q2 2020 earnings at $1.77 EPS, Q3 2020 earnings at $1.97 EPS and FY2020 earnings at $7.32 EPS.
Several other brokerages have also recently weighed in on TXN. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group dropped their price target on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating on the stock in a research note on Wednesday. Macquarie set a $100.00 price target on shares of Texas Instruments and gave the stock a “hold” rating in a research note on Wednesday. Nomura dropped their price target on shares of Texas Instruments from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price target on shares of Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $117.11.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.05. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis.
Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 20th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be issued a $0.77 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, October 30th. Texas Instruments’s payout ratio is currently 57.94%.
In other news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $111.55, for a total value of $2,824,222.90. Following the sale, the insider now directly owns 131,153 shares in the company, valued at approximately $14,630,117.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bridgeworth LLC increased its holdings in shares of Texas Instruments by 28.7% in the 2nd quarter. Bridgeworth LLC now owns 3,064 shares of the semiconductor company’s stock worth $337,000 after buying an additional 683 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of Texas Instruments by 1.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 316,213 shares of the semiconductor company’s stock worth $34,862,000 after buying an additional 4,665 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Texas Instruments by 9.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 10,190 shares of the semiconductor company’s stock worth $1,123,000 after buying an additional 906 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Texas Instruments by 14.1% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,461,000 shares of the semiconductor company’s stock worth $161,075,000 after purchasing an additional 179,993 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Texas Instruments during the 2nd quarter worth about $44,998,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
Texas Instruments Company Profile
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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