Texas Instruments (NASDAQ:TXN) Lifted to Buy at Summit Insights

Texas Instruments (NASDAQ:TXN) was upgraded by Summit Insights from a “hold” rating to a “buy” rating in a report released on Wednesday, Briefing.com reports.

Several other research firms also recently commented on TXN. The Goldman Sachs Group boosted their target price on shares of Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Truist Financial reduced their price objective on Texas Instruments from $203.00 to $198.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley increased their price target on shares of Texas Instruments from $150.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price objective on shares of Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, KeyCorp upped their target price on Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $206.65.

Texas Instruments Price Performance

NASDAQ:TXN opened at $193.97 on Wednesday. The business’s 50-day simple moving average is $203.31 and its two-hundred day simple moving average is $194.94. Texas Instruments has a 52 week low of $139.48 and a 52 week high of $214.66. The stock has a market cap of $177.10 billion, a PE ratio of 33.68, a P/E/G ratio of 4.32 and a beta of 0.98. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75.

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

Insiders Place Their Bets

In other news, CEO Haviv Ilan sold 1,200 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.44, for a total transaction of $251,328.00. Following the transaction, the chief executive officer now owns 158,676 shares in the company, valued at $33,233,101.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the transaction, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the sale, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at $33,233,101.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,558 shares of company stock valued at $3,255,323. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Texas Instruments

A number of institutional investors have recently bought and sold shares of TXN. 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 worth $976,765,000 after acquiring an additional 1,972,304 shares during the period. Capital Research Global Investors raised its position in shares of Texas Instruments by 4.7% in the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock worth $5,002,522,000 after acquiring an additional 1,279,828 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Texas Instruments by 65.8% during the 1st quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock worth $518,629,000 after acquiring an additional 1,181,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Texas Instruments by 454.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after acquiring an additional 1,029,741 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Texas Instruments by 17,253.3% in the 3rd quarter. International Assets Investment Management LLC now owns 613,440 shares of the semiconductor company’s stock valued at $126,718,000 after purchasing an additional 609,905 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.