Texas Instruments’ (TXN) Outperform Rating Reiterated at BMO Capital Markets
BMO Capital Markets reiterated their outperform rating on shares of Texas Instruments (NASDAQ:TXN) in a research note released on Friday, The Fly reports. The brokerage currently has a $138.00 target price on the semiconductor company’s stock, up from their prior target price of $5.08.
TXN has been the subject of a number of other reports. Bank of America upped their price target on Texas Instruments from $100.00 to $115.00 and gave the company a buy rating in a report on Wednesday, October 25th. SunTrust Banks reaffirmed a hold rating and issued a $86.00 price target on shares of Texas Instruments in a report on Thursday, October 12th. Oppenheimer reaffirmed a buy rating and issued a $110.00 price target (up from $92.00) on shares of Texas Instruments in a report on Wednesday, October 25th. Zacks Investment Research downgraded Texas Instruments from a buy rating to a hold rating in a report on Monday, January 15th. Finally, Robert W. Baird upped their price target on Texas Instruments from $85.00 to $100.00 and gave the company a neutral rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $99.29.
Shares of Texas Instruments (TXN) traded up $0.42 on Friday, reaching $116.83. The company had a trading volume of 6,367,200 shares, compared to its average volume of 5,837,892. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. The firm has a market capitalization of $116,230.00, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.27. Texas Instruments has a 52-week low of $74.16 and a 52-week high of $119.98.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, January 30th. Texas Instruments’s dividend payout ratio (DPR) is presently 56.49%.
In other news, Director Mark A. Blinn sold 16,990 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 18,495 shares in the company, valued at $1,783,657.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.51, for a total value of $43,429,500.00. Following the sale, the chairman now owns 1,137,056 shares of the company’s stock, valued at approximately $109,737,274.56. The disclosure for this sale can be found here. Insiders have sold 1,362,293 shares of company stock valued at $131,754,396 in the last 90 days. Company insiders own 0.96% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BerganKDV Wealth Management LLC raised its position in Texas Instruments by 53.3% in the third quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock worth $1,079,000 after acquiring an additional 4,182 shares in the last quarter. Ingalls & Snyder LLC raised its position in Texas Instruments by 9.6% in the third quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock worth $1,129,000 after acquiring an additional 1,100 shares in the last quarter. PGGM Investments raised its position in Texas Instruments by 102.8% in the third quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock worth $85,751,000 after acquiring an additional 484,906 shares in the last quarter. Sather Financial Group Inc purchased a new position in Texas Instruments in the second quarter worth $600,000. Finally, Prudential PLC raised its position in Texas Instruments by 62.3% in the second quarter. Prudential PLC now owns 26,520 shares of the semiconductor company’s stock worth $2,040,000 after acquiring an additional 10,175 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.
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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