Texas Instruments Tosses NYSE in Favor of NASDAQ
NYSE (NYSE:NYX) has lost its listing of Texas Instruments (NYSE:TXN) to NASDAQ (NASDAQ:NDAQ). The company is transferring the listing of its shares from the New York Stock Exchange to the NASDAQ Global Select Market effective January 1, 2012, and will trade at its old symbol TXN.
Explaining the rationale for the move, Ron Slaymaker, TI Vice President and Head of Investor Relations, said, “NASDAQ is home to many of the world’s best technology companies and is a natural fit for TI. NASDAQ itself has always been an early adopter of technology. This move will enhance our public visibility while offering our shareholders cost-effective access to advanced trading technologies.”
“We welcome Texas Instruments (NYSE:TXN) to NASDAQ. TI is one of the world’s most significant global semiconductor companies and its technologies power many of the most popular consumer and enterprise electronics products on the market today. TI has a long history of focusing on shareholder value and this move will only reinforce that reputation,” said Bruce Aust, Executive Vice President, Global Corporate Client Group, NASDAQ OMX.
Here’s how these stocks are trading on the news:
Texas Instruments Inc. (NYSE:TXN): TXN shares recently traded at $28.48, up $0.44, or 1.57%. They have traded in a 52-week range of $24.34 to $36.71. Volume today was 330,806 shares versus a 3-month average volume of 12,774,400 shares. The company’s trailing P/E is 11.87, while trailing earnings are $2.40 per share. Get the most recent company news and stock data here >>