Texas Instruments Incorporated (TXN) Raises Dividend to $0.62 Per Share
Texas Instruments Incorporated (NASDAQ:TXN) declared a quarterly dividend on Thursday, September 21st, RTT News reports. Shareholders of record on Tuesday, October 31st will be paid a dividend of 0.62 per share by the semiconductor company on Monday, November 13th. This represents a $2.48 annualized dividend and a yield of 2.89%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. Texas Instruments’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share.
In other news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares in the company, valued at $3,161,278.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the sale, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,301 shares of company stock worth $17,259,256. Company insiders own 0.96% of the company’s stock.
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A number of brokerages have commented on TXN. B. Riley restated a “neutral” rating and issued a $89.00 price target on shares of Texas Instruments in a research report on Monday, July 31st. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. SunTrust Banks, Inc. restated a “hold” rating and issued a $86.00 price target (up previously from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company restated a “market perform” rating and issued a $85.00 price target (up previously from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Finally, Loop Capital restated a “hold” rating and issued a $84.00 price target (up previously from $79.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.18.
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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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