Shares of Texas Instruments Incorporated (TXN) are trading higher by almost 6% to $69.95 in afterhours trading following the release of second-quarter earnings results.
Advertisement
In other Texas Instruments news, CEO Richard K. Templeton sold 934,461 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd.
Nevertheless, the company saw strong demand from automotive, industrial and communication markets. Personal electronics grew sequentially but declined year over year, led by a dip in mobile phones. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Going ahead, the company should continue to benefit from an efficient manufacturing strategy, which includes shifting to 300mm analog production and purchasing assets ahead of demand.
“Our cash flow from operations of $4.5 billion for the trailing 12 months again underscored the strength of our business model”.
For Q3, Texas Instruments guided to $3.34 billion to $3.62 billion in sales and 81-91 cents EPS, up 1% and 13%, respectively, vs. the year-earlier period.
According to company, at the end of the quarter, its balance sheet continues to be strong with cash $2.5 billion and short-term investments of which eighty percent is owned by the USA entities of the company.
On 25 July Starbucks Corporation (NASDAQ:SBUX) ended the day at $57.95. It holds an average volume of 5.34 million shares. SBUX market capitalization is 84.89B with 238000 employees. Jefferies Group raised their price target on Texas Instruments from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th.
The 52 week high of shares in Texas Instruments is 71.5 while the 52 week low for the company’s shares is 43.49. (TXN) YTD (year to date) performance, the stock shows Positive value of 21.16%. Shares of Texas Instruments Incorporated (NASDAQ:TXN) now have an ABR of 2.56, derived from a total of 25 opinions.
During the most recent trading day, the stock’s price shifted up +52.26% from its 52-week low lower from its 52-week high.
The Company gained 0.89% and finished at $65.49. The stock was sold at an average price of $57.04, for a total value of $1,946,547.04.
Advertisement
The company’s largest customer Apple Inc is expected to launch the iPhone 7 in September. The company reported second quarter earnings of 76 cents a share on revenue of $3.27 billion.
