Market Update: Texas Instruments Inc (NASDAQ:TXN) – Texas Instruments Rises on Q1 Earnings Beat, Higher Forecast

[at Barrons.com] – Analog chip giant Texas Instruments (TXN) this afternoon reported Q1 revenue and profit that that topped analysts’ expectations, and forecast this quarter’s results higher as well, sending its shares up in late trading. CEO Rich Templeton said the company saw “notable market activity for our products included continuing strength in automotive, as well as improvement in industrial and communications equipment.” He said the decline in revenue was “due to weakness within the personal electronics market, which declined as expected.” TI paid out $383 million in dividends in the quarter, and $1.47 billion in 12 months ended in March, and bought back $630 million of its shares and $2.7 billion in the trailing twelve months. Read more on this. Texas Instruments Inc. (TXN) , with a current market cap of $60.24B, started trading this morning at $59.03. Shares have traded today between $58.76 and $60.00 per share and has traded between $43.49 and $60.00 over the past year. Texas Instruments (TXN) shares are currently priced at 20.48x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.97x earnings multiple for the same period. The company pays shareholders $1.52 per share annually in dividends, yielding 2.59%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.62 per share, which would be $0.01 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.90, which would be a $0.08 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.98 Billion. If realized, that would be a 5.40% decrease over the year-ago quarter. In terms of ratings, Raymond James downgraded TXN from Strong Buy to Outperform (Apr 19, 2016). Previously, Goldman downgraded TXN from Neutral to Sell. The average price target for TXN shares by the analysts covering the stock is $57.97, which is 1.80% below where the stock opened this morning. See more in (NASDAQ:TXN) Similar Articles: Company Update: Texas Instruments Inc (NASDAQ:TXN) – Texas Instruments (TXN) Stock Rises, Drexel Hamilton Initiates With ‘Buy’ Rating Company Update: Texas Instruments Inc (NASDAQ:TXN) – Texas Instruments (TXN) Stock Higher in Pre-Market Trading on Earnings Beat Stock Update: Texas Instruments Inc (NASDAQ:TXN) – Texas Instruments Forecast Meets Estimates Amid Slowdown