Zacks restated their neutral rating on shares of Texas Instruments Incorporated (NYSE:TXN) in a report released on Friday, Analyst Ratings Network.com reports. Zacks currently has a $42.00 price objective on the stock.
Zacks’ analyst wrote, “TI is one of the largest suppliers of analog and DSP integrated circuits. Second-quarter earnings missed the Zacks Consensus Estimate and provided disappointing forward guidance. We believe that TI’s declining wireless business is likely to remain a drag. However, the company’s compelling product line, market share gains and strategic refocus on high-growth areas of the analog and embedded processing markets are positives. Share prices appear to reflect the uncertainty in demand, significant capacity (that will pressure earnings) and the risks associated with a high debt level. We therefore reiterate our Neutral rating on the shares.”
Zacks has also modified their ratings on a number of other information technology stocks in the few days. The firm upgraded shares of Integrated Silicon Solution Inc. from an underperform rating to a neutral rating. The firm now has a $11.20 price target on that stock. Also, Zacks downgraded shares of Intersil Corp. from an outperform rating to a neutral rating. Their analysts now have a $11.80 price target on that stock. Finally, Zacks downgraded shares of Supertex Inc. from an outperform rating to a neutral rating. Their analysts now have a $29.10 price target on that stock.
A number of other analysts have also recently weighed in on TXN. Analysts at Wedbush raised their price target on shares of Texas Instruments Incorporated (NYSE:TXN) from $40.00 to $42.00 in a research note to investors on Wednesday, September 11th. They now have an outperform rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Texas Instruments Incorporated (NYSE:TXN) to $40.00 in a research note to investors on Wednesday, September 11th. Finally, analysts at JPMorgan Chase & Co. set a $45.00 price target on shares of Texas Instruments Incorporated (NYSE:TXN) in a research note to investors on Wednesday, September 11th. They now have an overweight rating on the stock. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. Texas Instruments Incorporated currently has a consensus rating of Hold and an average price target of $36.83.
Texas Instruments Incorporated (NYSE:TXN) traded up 0.29% on Friday, hitting $40.405. 2,491,331 shares of the company’s stock traded hands. Texas Instruments Incorporated has a 1-year low of $27.00 and a 1-year high of $40.94. The stock has a 50-day moving average of $39.55 and a 200-day moving average of $37.11. The company has a market cap of $44.493 billion and a price-to-earnings ratio of 22.21.
Texas Instruments Incorporated (NYSE:TXN) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.01. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company posted $0.44 earnings per share. Texas Instruments Incorporated’s revenue was down 8.6% compared to the same quarter last year. On average, analysts predict that Texas Instruments Incorporated will post $1.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 18th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, October 29th. This is a boost from Texas Instruments Incorporated’s previous quarterly dividend of $0.28.
Texas Instruments Inc (NYSE:TXN) designs and makes semiconductors that the Company sells to electronics designers and manufacturers all over the world.
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