Texas Instruments Incorporated (NASDAQ:TXN) – Equities researchers at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for shares of Texas Instruments in a research report issued on Wednesday, October 24th. SunTrust Banks analyst W. Stein now expects that the semiconductor company will post earnings of $5.40 per share for the year, down from their prior forecast of $5.49. SunTrust Banks has a “Hold” rating and a $93.00 price target on the stock. SunTrust Banks also issued estimates for Texas Instruments’ Q4 2018 earnings at $1.25 EPS, Q1 2019 earnings at $1.16 EPS, Q2 2019 earnings at $1.26 EPS, Q3 2019 earnings at $1.40 EPS, Q4 2019 earnings at $1.32 EPS and FY2019 earnings at $5.14 EPS.
Several other equities research analysts have also weighed in on TXN. Atlantic Securities started coverage on shares of Texas Instruments in a research note on Tuesday, July 10th. They set an “overweight” rating and a $130.00 price objective on the stock. Longbow Research upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 11th. Royal Bank of Canada increased their price objective on shares of Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Thursday, July 19th. Finally, Mizuho reiterated a “hold” rating on shares of Texas Instruments in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $117.11.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.30 billion. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. Texas Instruments’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share.
Several institutional investors have recently bought and sold shares of TXN. Kiley Juergens Wealth Management LLC bought a new position in shares of Texas Instruments in the second quarter valued at approximately $100,000. Centaurus Financial Inc. bought a new position in shares of Texas Instruments in the second quarter valued at approximately $101,000. Baker Ellis Asset Management LLC bought a new position in shares of Texas Instruments in the second quarter valued at approximately $105,000. Kwmg LLC bought a new position in shares of Texas Instruments in the second quarter valued at approximately $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Texas Instruments in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 84.21% of the company’s stock.
In related news, Director Martin S. Craighead acquired 10,900 shares of the firm’s stock in a transaction dated Thursday, October 25th. The stock was acquired at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the completion of the acquisition, the director now directly owns 13,100 shares of the company’s stock, valued at approximately $1,201,270. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a $0.77 dividend. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 annualized dividend and a yield of 3.31%. Texas Instruments’s dividend payout ratio is 57.94%.
Texas Instruments declared that its board has initiated a stock repurchase plan on Thursday, September 20th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 11.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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.
Further Reading: Insider Trading
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