Texas Instruments Inc. (TXN) Short Interest Down 4.0% in September
Texas Instruments Inc. (NASDAQ:TXN) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 20,904,265 shares, a drop of 4.0% from the August 31st total of 21,771,856 shares. Based on an average trading volume of 5,025,843 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.1% of the shares of the stock are sold short.
A number of equities analysts recently weighed in on the company. Robert W. Baird raised Texas Instruments from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $80.00 in a report on Wednesday, September 14th. Sanford C. Bernstein raised Texas Instruments from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $80.00 in a research note on Monday, September 12th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Texas Instruments in a research note on Tuesday, August 30th. Royal Bank Of Canada lifted their price target on Texas Instruments from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Finally, Exane BNP Paribas raised Texas Instruments from an “underperform” rating to a “neutral” rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.44.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The firm earned $3.27 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Texas Instruments had a return on equity of 30.14% and a net margin of 23.89%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS.
In related news, insider Stephen A. Anderson sold 103,125 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $70.08, for a total transaction of $7,227,000.00. Following the transaction, the insider now directly owns 292,446 shares of the company’s stock, valued at approximately $20,494,615.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bing Xie sold 11,565 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.12, for a total value of $799,372.80. Following the transaction, the insider now directly owns 187,370 shares in the company, valued at $12,951,014.40. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Texas Instruments by 3.2% in the second quarter. Vanguard Group Inc. now owns 72,913,570 shares of the company’s stock worth $4,568,036,000 after buying an additional 2,282,169 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Texas Instruments by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 29,773,662 shares of the company’s stock worth $1,865,321,000 after buying an additional 681,785 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Texas Instruments by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 27,968,722 shares of the company’s stock worth $1,605,964,000 after buying an additional 453,914 shares in the last quarter. Capital International Investors boosted its stake in shares of Texas Instruments by 1.8% in the second quarter. Capital International Investors now owns 26,293,224 shares of the company’s stock worth $1,647,270,000 after buying an additional 469,890 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Texas Instruments by 6.6% in the first quarter. Franklin Resources Inc. now owns 20,418,746 shares of the company’s stock worth $1,172,444,000 after buying an additional 1,259,788 shares in the last quarter. 86.89% of the stock is owned by hedge funds and other institutional investors.
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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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