Summit Redstone Downgrades Texas Instruments (NASDAQ:TXN) to Hold

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

Texas Instruments (NASDAQ:TXN) was downgraded by analysts at Summit Redstone to a "hold" rating in a research note issued on Thursday, TipRanks reports.

TXN has been the subject of a number of other reports. Susquehanna Bancshares boosted their target price on shares of Texas Instruments from $220.00 to $230.00 and gave the stock a "positive" rating in a research note on Thursday, July 1st. Oppenheimer boosted their target price on shares of Texas Instruments from $185.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, April 15th. Truist boosted their target price on shares of Texas Instruments from $184.00 to $200.00 in a research note on Wednesday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of Texas Instruments from $215.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, boosted their target price on shares of Texas Instruments from $201.00 to $215.00 in a research note on Wednesday, April 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of "Hold" and an average price target of $198.45.

TXN stock traded down $9.36 during trading on Thursday, hitting $184.88. 404,839 shares of the stock traded hands, compared to its average volume of 3,145,382. Texas Instruments has a one year low of $125.43 and a one year high of $197.58. The stock has a market cap of $170.74 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.03. The stock has a 50 day moving average of $188.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 5.01 and a current ratio of 6.12.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.23. Texas Instruments had a net margin of 40.04% and a return on equity of 69.92%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the firm posted $1.48 EPS. The firm's quarterly revenue was up 41.4% on a year-over-year basis. As a group, research analysts forecast that Texas Instruments will post 7.44 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlas Private Wealth Advisors lifted its stake in Texas Instruments by 512.5% in the first quarter. Atlas Private Wealth Advisors now owns 147 shares of the semiconductor company's stock valued at $28,000 after buying an additional 123 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in shares of Texas Instruments in the fourth quarter worth $30,000. Encompass Wealth Advisors LLC bought a new stake in shares of Texas Instruments in the fourth quarter worth $30,000. Retirement Group LLC bought a new stake in shares of Texas Instruments in the fourth quarter worth $31,000. Finally, Curi Capital bought a new stake in shares of Texas Instruments in the fourth quarter worth $30,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Company Profile

Texas Instruments Incorporated engages in the design, manufacture, test, and sell analog and embedded semiconductors, which include industrial, automotive, personal electronics, communications equipment, and enterprise systems. It operates through the following segments: Analog and Embedded Processing.

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Analyst Recommendations for Texas Instruments (NASDAQ:TXN)

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