Texas Instruments’ (TXN) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their market perform rating on shares of Texas Instruments (NASDAQ:TXN) in a research note published on Wednesday morning, Benzinga reports.

TXN has been the subject of several other reports. Rosenblatt Securities restated a buy rating and set a $210.00 price target on shares of Texas Instruments in a report on Wednesday. UBS Group upgraded Texas Instruments from a neutral rating to a buy rating and lifted their price objective for the stock from $170.00 to $195.00 in a report on Friday, January 19th. Morgan Stanley lifted their price objective on Texas Instruments from $138.00 to $146.00 and gave the stock an underweight rating in a report on Wednesday, January 24th. Barclays reduced their price objective on Texas Instruments from $160.00 to $150.00 and set an equal weight rating for the company in a report on Wednesday, January 24th. Finally, KeyCorp lifted their price objective on Texas Instruments from $180.00 to $200.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $180.74.

Texas Instruments Stock Performance

Shares of Texas Instruments stock opened at $177.48 on Wednesday. Texas Instruments has a 12 month low of $139.48 and a 12 month high of $188.12. The company has a current ratio of 4.91, a quick ratio of 3.35 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $169.29 and a two-hundred day simple moving average of $162.22. The firm has a market capitalization of $161.52 billion, a P/E ratio of 27.69, a P/E/G ratio of 3.77 and a beta of 1.04.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the company earned $1.85 earnings per share. The company’s revenue was down 16.4% on a year-over-year basis. On average, equities analysts forecast that Texas Instruments will post 5.16 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.93%. Texas Instruments’s payout ratio is currently 81.12%.

Insider Activity

In other news, Director Mark A. Blinn sold 1,744 shares of Texas Instruments stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $159.85, for a total transaction of $278,778.40. Following the transaction, the director now directly owns 11,693 shares of the company’s stock, valued at approximately $1,869,126.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TXN. Norges Bank purchased a new position in shares of Texas Instruments during the 4th quarter valued at about $1,649,592,000. Morgan Stanley lifted its position in shares of Texas Instruments by 14.2% during the 3rd quarter. Morgan Stanley now owns 14,154,358 shares of the semiconductor company’s stock valued at $2,250,685,000 after buying an additional 1,755,582 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Texas Instruments by 33.2% during the 4th quarter. California Public Employees Retirement System now owns 6,035,704 shares of the semiconductor company’s stock valued at $1,028,846,000 after buying an additional 1,502,989 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Texas Instruments by 565.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,693,577 shares of the semiconductor company’s stock valued at $288,687,000 after buying an additional 1,439,066 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in Texas Instruments by 338.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,795,191 shares of the semiconductor company’s stock worth $306,008,000 after purchasing an additional 1,385,725 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.