Texas Instruments Incorporated (TXN) Expected to Post Quarterly Sales of $3.75 Billion

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Wall Street brokerages expect Texas Instruments Incorporated (NASDAQ:TXN) to report $3.75 billion in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for Texas Instruments’ earnings. The lowest sales estimate is $3.75 billion and the highest is $3.76 billion. Texas Instruments also posted sales of $3.75 billion in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Tuesday, January 22nd.

On average, analysts expect that Texas Instruments will report full year sales of $15.82 billion for the current financial year, with estimates ranging from $15.82 billion to $15.87 billion. For the next year, analysts forecast that the firm will post sales of $15.58 billion, with estimates ranging from $14.88 billion to $16.20 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Texas Instruments.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

TXN has been the topic of several analyst reports. B. Riley lowered their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. Royal Bank of Canada lowered their price target on Texas Instruments to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Zacks Investment Research downgraded Texas Instruments from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Barclays lowered their price target on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 23rd. Finally, Goldman Sachs Group upgraded Texas Instruments from a “sell” rating to a “neutral” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Texas Instruments currently has a consensus rating of “Hold” and a consensus target price of $117.11.

TXN stock traded down $4.94 during midday trading on Wednesday, hitting $92.38. 8,774,864 shares of the company traded hands, compared to its average volume of 5,898,373. Texas Instruments has a twelve month low of $87.90 and a twelve month high of $120.75. The company has a quick ratio of 3.09, a current ratio of 3.97 and a debt-to-equity ratio of 0.41. The company has a market cap of $93.48 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29.

Texas Instruments announced that its board has authorized a share buyback program on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st were paid a $0.77 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. Texas Instruments’s dividend payout ratio (DPR) is presently 71.96%.

In other Texas Instruments news, Director Martin S. Craighead purchased 10,900 shares of the firm’s stock in a transaction on Thursday, October 25th. The shares were purchased at an average price of $91.70 per share, for a total transaction of $999,530.00. Following the completion of the purchase, the director now directly owns 13,100 shares of the company’s stock, valued at $1,201,270. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $94.00, for a total transaction of $1,512,272.00. Following the sale, the insider now owns 43,270 shares in the company, valued at approximately $4,067,380. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. bought a new position in shares of Texas Instruments during the second quarter valued at $101,000. Baker Ellis Asset Management LLC bought a new position in shares of Texas Instruments during the second quarter valued at $105,000. Kwmg LLC bought a new position in shares of Texas Instruments during the second quarter valued at $107,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Texas Instruments during the third quarter valued at $107,000. Finally, Fort L.P. bought a new position in shares of Texas Instruments during the second quarter valued at $118,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

About Texas Instruments

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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