Texas Instruments Incorporated (NASDAQ:TXN) – B. Riley decreased their FY2018 earnings per share (EPS) estimates for shares of Texas Instruments in a research note issued to investors on Wednesday, October 24th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings per share of $5.40 for the year, down from their previous forecast of $5.48. B. Riley currently has a “Neutral” rating and a $110.00 target price on the stock. B. Riley also issued estimates for Texas Instruments’ Q4 2018 earnings at $1.25 EPS, Q1 2019 earnings at $1.27 EPS, Q2 2019 earnings at $1.41 EPS, Q3 2019 earnings at $1.62 EPS, Q4 2019 earnings at $1.52 EPS, FY2019 earnings at $5.82 EPS, Q1 2020 earnings at $1.48 EPS, Q2 2020 earnings at $1.41 EPS, Q3 2020 earnings at $1.62 EPS and FY2020 earnings at $6.52 EPS.
Other equities research analysts have also issued research reports about the company. Sanford C. Bernstein set a $130.00 price target on Texas Instruments and gave the stock a “buy” rating in a research note on Wednesday, July 25th. UBS Group dropped their price target on Texas Instruments from $93.00 to $90.00 and set a “sell” rating on the stock in a research note on Wednesday. Atlantic Securities began coverage on Texas Instruments in a research note on Tuesday, July 10th. They set an “overweight” rating and a $130.00 price target on the stock. Zacks Investment Research lowered Texas Instruments from a “strong-buy” rating to a “hold” rating in a research note on Saturday, June 30th. Finally, BidaskClub lowered Texas Instruments from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. Texas Instruments currently has a consensus rating of “Hold” and a consensus price target of $117.11.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis.
A number of large investors have recently made changes to their positions in the business. Bank of The West lifted its holdings in Texas Instruments by 4.6% in the second quarter. Bank of The West now owns 10,401 shares of the semiconductor company’s stock valued at $1,146,000 after acquiring an additional 453 shares during the period. Buckley Wealth Management LLC lifted its holdings in Texas Instruments by 3.5% in the second quarter. Buckley Wealth Management LLC now owns 13,732 shares of the semiconductor company’s stock valued at $1,514,000 after acquiring an additional 461 shares during the period. D.B. Root & Company LLC lifted its holdings in Texas Instruments by 8.9% in the second quarter. D.B. Root & Company LLC now owns 5,701 shares of the semiconductor company’s stock valued at $629,000 after acquiring an additional 466 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its holdings in Texas Instruments by 0.7% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 64,132 shares of the semiconductor company’s stock valued at $7,071,000 after acquiring an additional 474 shares during the period. Finally, Northstar Investment Advisors LLC lifted its holdings in Texas Instruments by 0.5% in the second quarter. Northstar Investment Advisors LLC now owns 96,683 shares of the semiconductor company’s stock valued at $10,657,000 after acquiring an additional 479 shares during the period. 84.23% of the stock is owned by institutional investors.
In related news, insider Stephen A. Anderson sold 25,318 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total value of $2,824,222.90. Following the sale, the insider now owns 131,153 shares in the company, valued at $14,630,117.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.84% of the stock is owned by corporate insiders.
Texas Instruments declared that its Board of Directors has initiated a share buyback plan on Thursday, September 20th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio is currently 57.94%.
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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