Texas Instruments (NASDAQ:TXN) Reaches New 1-Year High Following Analyst Upgrade

Texas Instruments Incorporated (NASDAQ:TXN)’s share price reached a new 52-week high on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. Citigroup now has a $235.00 price target on the stock, up from their previous price target of $200.00. Texas Instruments traded as high as $210.88 and last traded at $207.72, with a volume of 3944761 shares traded. The stock had previously closed at $202.54.

Several other research analysts have also issued reports on TXN. Wells Fargo & Company initiated coverage on shares of Texas Instruments in a research report on Thursday, May 16th. They issued an “underweight” rating and a $150.00 target price for the company. Stifel Nicolaus increased their price objective on Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Robert W. Baird raised their price objective on Texas Instruments from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. KeyCorp upped their target price on Texas Instruments from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Truist Financial lifted their price target on shares of Texas Instruments from $167.00 to $203.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $201.95.

Hedge Funds Weigh In On Texas Instruments

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Texas Instruments in the fourth quarter worth about $1,649,592,000. Van ECK Associates Corp lifted its stake in shares of Texas Instruments by 54.3% in the 1st quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after purchasing an additional 1,972,304 shares during the period. Capital Research Global Investors boosted its position in shares of Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after purchasing an additional 1,279,828 shares in the last quarter. Baillie Gifford & Co. grew its stake in Texas Instruments by 65.8% in the first quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock worth $518,629,000 after purchasing an additional 1,181,841 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Texas Instruments by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,048,334 shares of the semiconductor company’s stock worth $3,398,637,000 after purchasing an additional 1,154,513 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Price Performance

The firm has a 50-day simple moving average of $197.66 and a 200 day simple moving average of $183.75. The firm has a market cap of $185.53 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 4.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49.

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

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, July 31st. Texas Instruments’s payout ratio is 81.12%.

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.