Equities researchers at Credit Suisse increased their target price on shares of Texas Instruments (NYSE: TXN)
The analysts wrote, ?Relative to the prior expectations given on 1/22, TXN noted signs of improving business citing (1) stronger booking trends, (2) accumulating backlog for the first time in several quarters and (3) Industrial (HPA and SVA) and Wireless faring better than expectations. Despite the upside to March results, we continue to believe that investors are focused on June ? we expect June revenue to be up 8% q/q, roughly in-line with Street at up 7% q/q, but our checks to date suggest limited upside to the June quarter numbers. We modestly raise our TP to $35.00 from $32.00 but remain Neutral as we continue to believe that there are better ways to play the cyclical recovery, favoring companies with more exposure to Infrastructure, Automotive or Industrial (I/A/I) end-markets.? Shares of Texas Instruments traded down 0.31% during mid-day trading on Friday, hitting $35.09. Texas Instruments has a 52 week low of $26.06 and a 52 week high of $35.26. The stock?s 50-day moving average is currently $33.68. The company has a market cap of $38.767 billion and a P/E ratio of 23.31.
Texas Instruments last released its earnings data on Tuesday, January 22nd. The company reported $0.36 earnings per share for the quarter, beating the analysts? consensus estimate of $0.34 by $0.02. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company?s quarterly revenue was down 12.9% on a year-over-year basis. Texas Instruments has set its Q1 guidance at $0.24-0.32 EPS. On average, analysts predict that Texas Instruments will post $1.60 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of Texas Instruments from $33.00 to $35.00 in a research note to investors on Friday. They now have a ?neutral? rating on the stock. Separately, analysts at Jefferies Group reiterated a ?buy? rating on shares of Texas Instruments in a research note to investors on Friday. They now have a $41.00 price target on the stock, up previously from $40.00. Finally, analysts at JPMorgan Chase raised their EPS on shares of Texas Instruments in a research note to investors on Friday. They now have a $37.00 price target on the stock.
Nine research analysts have rated the stock with a buy rating, three have assigned an overweight rating, twenty-four have issued a hold rating, one has given an underweight rating, and six have given a sell rating to the stock. Texas Instruments has a consensus rating of ?hold? and an average target price of $32.72.
The company also recently announced a quarterly dividend, which is scheduled for Monday, May 20th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, April 26th. This is a positive change from Texas Instruments?s previous quarterly dividend of $0.21.
Texas Instruments Inc. (TI) designs and makes semiconductors, which it sells to electronics designers and manufacturers globally.