Texas Instruments (NASDAQ:TXN) Raised to Buy at Citigroup

Citigroup upgraded shares of Texas Instruments (NASDAQ:TXN) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. They currently have $235.00 price target on the semiconductor company’s stock, up from their prior price target of $200.00.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a neutral rating and set a $210.00 target price on shares of Texas Instruments in a research note on Wednesday, July 24th. Benchmark reiterated a buy rating and set a $230.00 target price on shares of Texas Instruments in a research note on Wednesday, July 24th. Stifel Nicolaus upped their target price on shares of Texas Instruments from $172.00 to $200.00 and gave the company a hold rating in a research note on Thursday, July 18th. KeyCorp upped their target price on shares of Texas Instruments from $200.00 to $250.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Finally, Susquehanna upped their target price on shares of Texas Instruments from $205.00 to $250.00 and gave the company a positive rating in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $201.95.

Texas Instruments Stock Performance

TXN stock opened at $209.88 on Wednesday. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $191.09 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 4.36 and a beta of 0.99. Texas Instruments has a 12 month low of $139.48 and a 12 month high of $210.88. The firm has a 50 day moving average of $197.98 and a two-hundred day moving average of $184.11.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. Texas Instruments’s quarterly revenue was down 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 EPS. As a group, equities analysts anticipate that Texas Instruments will post 5.11 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Wednesday, July 31st. Texas Instruments’s dividend payout ratio is currently 81.12%.

Institutional Investors Weigh In On Texas Instruments

Several institutional investors have recently modified their holdings of TXN. Norges Bank acquired a new stake in shares of Texas Instruments during the 4th quarter worth approximately $1,649,592,000. Van ECK Associates Corp grew its holdings in Texas Instruments by 54.3% during the first quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after purchasing an additional 1,972,304 shares during the period. Capital Research Global Investors grew its holdings in Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after purchasing an additional 1,279,828 shares during the period. Baillie Gifford & Co. grew its holdings in Texas Instruments by 65.8% during the first quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock valued at $518,629,000 after purchasing an additional 1,181,841 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Texas Instruments by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,048,334 shares of the semiconductor company’s stock valued at $3,398,637,000 after purchasing an additional 1,154,513 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Company Profile

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.