Texas Instruments (NASDAQ:TXN) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Texas Instruments (NASDAQ:TXN) posted its quarterly earnings data on Tuesday. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06, RTT News reports. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The business’s quarterly revenue was down 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. Texas Instruments updated its Q3 guidance to $1.24-1.48 EPS and its Q3 2024 guidance to 1.240-1.480 EPS.

Texas Instruments Stock Up 3.5 %

Shares of TXN stock traded up $6.95 during mid-day trading on Friday, hitting $204.10. 2,500,705 shares of the stock traded hands, compared to its average volume of 5,490,072. Texas Instruments has a 52-week low of $139.48 and a 52-week high of $210.84. The stock has a market cap of $185.83 billion, a P/E ratio of 31.52, a P/E/G ratio of 4.29 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 3.76. The stock’s fifty day moving average is $197.90 and its two-hundred day moving average is $179.55.

Texas Instruments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.55%. Texas Instruments’s dividend payout ratio is presently 81.12%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upped their price target on shares of Texas Instruments from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday. Stifel Nicolaus increased their price target on Texas Instruments from $172.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup increased their target price on Texas Instruments from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Texas Instruments in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Instruments has a consensus rating of “Hold” and a consensus price target of $198.64.

Insider Activity at Texas Instruments

In other Texas Instruments news, Chairman Richard K. Templeton sold 100,440 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.47, for a total value of $17,925,526.80. Following the completion of the sale, the chairman now directly owns 403,851 shares in the company, valued at $72,075,287.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Texas Instruments news, Chairman Richard K. Templeton sold 100,440 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.47, for a total transaction of $17,925,526.80. Following the transaction, the chairman now owns 403,851 shares in the company, valued at approximately $72,075,287.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela H. Patsley sold 9,990 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $179.12, for a total value of $1,789,408.80. Following the completion of the transaction, the director now owns 33,348 shares of the company’s stock, valued at approximately $5,973,293.76. The disclosure for this sale can be found here. Insiders sold 328,969 shares of company stock valued at $58,427,984 over the last 90 days. Insiders own 0.68% of the company’s stock.

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.