Texas Instruments Incorporated (NASDAQ:TXN) shares shot up 0% during trading on Wednesday . The company traded as high as $119.43 and last traded at $119.16. 6,910,000 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 5,010,000 shares. The stock had previously closed at $119.16.
A number of research firms have commented on TXN. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a research report on Wednesday, October 4th. Zacks Investment Research cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group reaffirmed an “in-line” rating and issued a $125.00 target price (up previously from $110.00) on shares of Texas Instruments in a research report on Tuesday. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $96.06.
The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $117,440.00, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 2.57 and a beta of 1.27.
Texas Instruments announced that its board has authorized a share buyback program on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, VP R Gregory Delagi sold 61,250 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $96.75, for a total transaction of $5,925,937.50. Following the sale, the vice president now directly owns 189,234 shares in the company, valued at $18,308,389.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 450,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.51, for a total transaction of $43,429,500.00. Following the sale, the chairman now owns 1,137,056 shares in the company, valued at $109,737,274.56. The disclosure for this sale can be found here. Insiders have sold 1,362,293 shares of company stock worth $131,754,396 over the last 90 days. Insiders own 0.96% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Berkshire Asset Management LLC PA increased its stake in Texas Instruments by 53.5% in the fourth quarter. Berkshire Asset Management LLC PA now owns 14,792 shares of the semiconductor company’s stock valued at $1,545,000 after purchasing an additional 5,156 shares during the last quarter. Charter Trust Co. increased its stake in Texas Instruments by 1.2% in the fourth quarter. Charter Trust Co. now owns 39,470 shares of the semiconductor company’s stock valued at $4,122,000 after purchasing an additional 479 shares during the last quarter. CAPROCK Group Inc. increased its stake in Texas Instruments by 33.6% in the fourth quarter. CAPROCK Group Inc. now owns 18,749 shares of the semiconductor company’s stock valued at $2,113,000 after purchasing an additional 4,717 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Texas Instruments by 4.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,131,931 shares of the semiconductor company’s stock valued at $535,979,000 after purchasing an additional 216,334 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in Texas Instruments in the fourth quarter valued at approximately $207,000. Institutional investors own 83.85% of the company’s stock.
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Texas Instruments Company Profile
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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