Texas Instruments Incorporated (NASDAQ: TXN) shares rose on Wednesday January 25 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened
The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.
The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.
All three main indexes set intraday records shortly after the opening bell.
Robert W. Baird analysts reiterated its Neutral rating on Texas Instruments Incorporated (NASDAQ: TXN) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Neutral on the stock. The one-year price target of $76.54 is lower than the opening price of $77.72, resulting a number of other analysts to issue statements on the company recently. Looking back over the last year, Texas Instruments Incorporated stock has a high of $78.20. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Yesterday Texas Instruments Incorporated (NASDAQ: TXN) shares last traded at $78.00, which represents a jump of $0.92 over the previous closing price. Opening at $77.72, they varied from $77.39 and $78.20 throughout the day.
Texas Instruments Incorporated (NASDAQ: TXN) now has a market cap of 77.96B.
Texas Instruments Incorporated (NASDAQ: TXN) Average Daily Trading Volume
The stock’s average daily volume is 5,332,250 shares out of a total float 996,627,000 and some 1,337,866 shares traded hands yesterday, 118 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Texas Instruments Incorporated (NASDAQ: TXN) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Texas Instruments Incorporated (NASDAQ: TXN) have ranged from $49.10 – 78.20, and the stock now has a 50-day MA of $73.83 and 200-day MA of $70.57. Today’s last price is 0.26%% under the 52 week high of $78.20.
Earnings growth is an important factor to research when buying stocks and investors watch for companies that have raised their earnings at least 25% or more for 3 consecutive years.
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