Texas Instruments (NASDAQ:TXN) announced that its Board of Directors has approved a share buyback program, which permits the company to repurchase $12.00 billion in shares on Thursday, September 20th. This repurchase authorization permits the semiconductor company to repurchase up to 11.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of analysts recently commented on TXN shares. Royal Bank of Canada lifted their price objective on Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a research report on Wednesday, July 18th. Loop Capital started coverage on Texas Instruments in a research report on Thursday, June 21st. They issued a “buy” rating and a $135.00 price objective for the company. BidaskClub lowered Texas Instruments from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Bank of America lifted their price objective on Texas Instruments from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Sanford C. Bernstein set a $130.00 target price on Texas Instruments and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.64.
NASDAQ:TXN opened at $109.80 on Tuesday. Texas Instruments has a fifty-two week low of $86.92 and a fifty-two week high of $120.75. The company has a current ratio of 6.54, a quick ratio of 5.12 and a debt-to-equity ratio of 0.48. The stock has a market cap of $106.99 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.03. Texas Instruments had a return on equity of 46.80% and a net margin of 28.08%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Texas Instruments’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts expect that Texas Instruments will post 5.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.81%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is 57.94%.
In other news, insider Stephen A. Anderson sold 25,318 shares of Texas Instruments stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the transaction, the insider now owns 131,153 shares in the company, valued at approximately $14,630,117.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% 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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