Texas Instruments Incorporated (NASDAQ:TXN) announced on Wednesday that it is layoff 1,700 jobs, as it moves down its mobile processor business to center on chips for more profitable markets similar to cars and home appliances.
Texas Instruments declared in September it would halt expensive investments in the surging competitive smartphone and tablet chip business, foremost Wall Street to speculate that part of the firm’s processor unit, known OMAP, could be sold.
The job eliminations are equivalent to around 5% of the Austin, Texas-based firm’s worldwide workforce.
Sanford Bernstein analyst Stacy Rasgon stated that a sale would have been more than a restructuring but a restructuring is surely more than nothing.
Texas Instruments Incorporated (NASDAQ:TXN) opened at $29.43 with 1.12 billion outstanding shares and touch its highest price of $29.64 of the day and then finished at $28.76 by decreasing -2.11%, as in the whole session stocks gain volume of 10.02 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 84.53% while insider ownership included 0.09%. The share capital of TXN has 1.12 billion outstanding shares amid them 1.12 billion shares have been floated in market.
For investors focus on the performance of the stocks so the TXN showed weekly decrease performance of -1.81% which was maintained for the month at 5.43%. The negative performance for the quarter was remained -2.44% and if took notice on yearly performance that was -7.14% whereas the year to date performance halted at 0.49%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the TXN return on investment was recorded as 10.50% as compare to its rivals has Intel Corporation (NASDAQ:INTC)’s ROI 19.64%, Advanced Micro Devices, Inc. (NYSE:AMD)’s ROI -27.43 ON Semiconductor Corp. (NASDAQ:ONNN)’s ROI 1.62%, Atmel Corporation (NASDAQ:ATML)’s ROI 6.23%.