Texas Instruments (NYSE:TXN) shares are up 3.1% today at $36.85 on the dividend hike and share buyback increase. Jim Cramer on today’s STOP TRADING segment on CNBC came out and said Texas Instruments has nothing else to do with its cash except buy stock and it should be a $45.00 stock masquerading as a $36.00 stock. The 52-week trading range on Texas Instruments is $28.24 to $39.63, and its market cap is over $52 Billion.
Cramer also said he would be a buyer of bank stocks despite a Lehman cut to estimates. JPMorgan (JPM), Wells Fargo (WFC), Wachovia Bank (WB), and Citigroup (C) are the name he mentioned. In oil, Cramer said the stock that people flock to for Rig Construction recovery is National Oilwell Varco (NYSE:NOV). They can print money because they are the last ones making rigs here.
- Here you can see the drop in bank stock short interest;
- Here you can see the mix in investment banking and brokerage firm short interest;
- Here was a summary of our news on TI’s dividend and buyback hike.
Jon C. Ogg
September 21, 2007