Texas Instruments Incorporated (NASDAQ:TXN): Surging 94.63% in 2021, Outlook Strong

The trading price of Texas Instruments Incorporated (NASDAQ:TXN) floating lower at last check on Wednesday, Apr 07, closing at $194.59, -0.74% lower than its previous close.

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Traders who pay close attention to intraday price movement should know that it has been fluctuating between $192.96 and $194.49. The company’s P/E ratio in the trailing 12-month period was 32.59, while its 5Y monthly beta was 1.07. In examining the 52-week price action we see that the stock hit a 52-week high of $197.58 and a 52-week low of $105.3. Over the past month, the stock has gained 15.87% in value.

Texas Instruments Incorporated, whose market valuation is $176.74 Billion at the time of this writing, is expected to release its quarterly earnings report on April 27, 2021. The dividend yield on the company stock is 2.1, while its Forward Dividend ratio is 4.08. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.57 per share this quarter, however they have predicted annual earnings per share of $6.72 for 2021 and $7.24 for 2022. It means analysts are expecting annual earnings per share growth of 0.16% this year and 0.08% next year.

Analysts have forecast the company to bring in revenue of $3.99 Billion for the quarter, with the likely lows of $3.95 Billion and highs of $4.12 Billion. The average estimate suggests sales will likely up by 19.7% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $16.6 Billion. The company’s revenue is forecast to grow by +14.8% over what it did in 2020.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Texas Instruments Incorporated 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest TXN has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned TXN a recommendation rating is 30. Out of them, 11 rate it a Hold, while 12 recommend Buy, whereas 2 assign an Outperform rating. None analyst(s) have tagged Texas Instruments Incorporated (TXN) as Underperform, while 5 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 3.26, which symbolizes a positive outlook. A quick review shows that TXN’s price is currently 6.73% off the SMA20 and 9.74% off the SMA50. The RSI metric on the 14-day chart is currently showing 64.03, and weekly volatility stands at 1.91%. When measured over the past 30 days, the indicator reaches 2.64%. Texas Instruments Incorporated (NASDAQ:TXN)’s beta value is currently sitting at 1.07, while the Average True Range indicator is currently displaying 5.41. With analysts defining $150-$225 as the low and high price targets, we arrive at a consensus price target of $187.59 for the trailing 12-month period. The current price is about -22.34% off the estimated low and 16.49% off the forecast high, based on this estimate. Investors will be thrilled if TXN’s share price rises to $185, which is the median consensus price. At that level, TXN’s share price would be -4.22% above current price.

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To see how Texas Instruments Incorporated stock has been performing today in comparison to its peers in the industry, here are the numbers: TXN stock’s performance was -0.74% at last check in today’s session, and +94.63% in the past year, while Nvidia Corp (NVDA) has been trading +1.17% in recent session and positioned +127.32% higher than it was a year ago. Another comparable company Intel Corp (INTC) saw its stock trading 0.46% higher in today’s session but was up +21.12% in a year. Furthermore, Stmicroelectronics N.V. (STM) showed a decline of -0.74% today while its price kept rising at 94.63% over the past year. Texas Instruments Incorporated has a P/E ratio of 32.59, compared to Nvidia Corp’s 80.51 and Intel Corp’s 13.27. Also during today’s trading, the S&P 500 Index has surged 0.16%, while the Dow Jones Industrial also saw a positive session, up +0.01% today.

An evaluation of the daily trading volume of Texas Instruments Incorporated (NASDAQ:TXN) indicates that the 3-month average is 4.93 Million. However, this figure has declined over the past 10 days to an average of 4.86 Million.

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Currently, records show that 923.01 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 0.24% of outstanding shares, whereas institutions hold 85.57%. The stats also highlight that short interest as of March 14, 2021, stood at 14.53 Million shares, resulting in a short ratio of 2.79 at that time. From this, we can conclude that short interest is 1.57% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 13.34 Million. However, since the stock’s price has seen +18.56% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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