Texas Instruments Received its Third Buy in a Row


After Loop Capital Markets and Atlantic Equities gave Texas Instruments (NASDAQ: TXN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rick Schafer assigned a Buy rating to Texas Instruments (NASDAQ: TXN) today and set a price target of $130. The company’s shares closed yesterday at $115.80, close to its 52-week high of $120.75.

Schafer noted:

“After Tuesday’s close, TXN announced the departure of recently-minted CEO Brian Crutcher for code of conduct violations. Templeton resumes his role as CEO, a position he held for the past 14 years. We see no fundamental impact from the transition. Mgmt also preannounced upside 2Q sales/ EPS of $4.02B/$1.40, topping consensus $3.97B/$1.30E. Additional color and 3Q outlook will be provided when TI reports 7/24. We see upside to $1.48E, led by auto/industrial. A top semiconductor bellwether, we expect investors to key on order/channel inventory commentary against backdrop of rising geopolitical risk and aging upcycle. Our thesis is unchanged. We view TXN as the top diversified steward of capital in the group with an established record of consistent execution. We remain long-term buyers with a $130 target.”

According to TipRanks.com, Schafer is a 5-star analyst with an average return of 16.5% and a 69.9% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Skyworks Solutions, and Monolithic Power.

Texas Instruments has an analyst consensus of Moderate Buy, with a price target consensus of $126.56, a 9.3% upside from current levels. In a report issued on July 10, Atlantic Equities also initiated coverage with a Buy rating on the stock with a $130 price target.

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Texas Instruments’ market cap is currently $113.7B and has a P/E ratio of 29.10. The company has a Price to Book ratio of 10.68.

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Kevin Ritchie, the SVP of TXN sold 52,698 shares for a total of $5,805,739.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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