Texas Instruments (NASDAQ:TXN) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Texas Instruments (NASDAQ:TXN) announced its quarterly earnings data on Tuesday. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06, RTT News reports. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $1.87 earnings per share. The business’s revenue was down 15.6% compared to the same quarter last year. Texas Instruments updated its Q3 guidance to $1.24-1.48 EPS and its Q3 2024 guidance to 1.240-1.480 EPS.

Texas Instruments Stock Down 0.6 %

Shares of TXN opened at $197.15 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.76. The stock has a market capitalization of $179.50 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99. Texas Instruments has a 1 year low of $139.48 and a 1 year high of $210.84. The business’s 50 day simple moving average is $197.90 and its 200-day simple moving average is $179.55.

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, July 31st. Texas Instruments’s payout ratio is presently 81.12%.

Wall Street Analyst Weigh In

A number of analysts have commented on TXN shares. JPMorgan Chase & Co. lifted their target price on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird lifted their price objective on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of Texas Instruments in a report on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of Texas Instruments from $150.00 to $156.00 and gave the stock an “underweight” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group increased their price objective on shares of Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $198.64.

Insider Activity at Texas Instruments

In other news, Director Pamela H. Patsley sold 9,990 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the sale, the director now directly owns 33,348 shares in the company, valued at approximately $5,973,293.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Pamela H. Patsley sold 9,990 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $179.12, for a total value of $1,789,408.80. Following the completion of the sale, the director now directly owns 33,348 shares in the company, valued at $5,973,293.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 104,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $175.83, for a total transaction of $18,286,320.00. Following the completion of the sale, the chairman now directly owns 403,851 shares in the company, valued at approximately $71,009,121.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,969 shares of company stock valued at $58,427,984. 0.68% of the stock is owned by corporate insiders.

About Texas Instruments

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.