Texas Instruments (NYSE: TXN) received a number of ratings updates from brokerages and research firms in the last week:
- Texas Instruments had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $39.00 price target on the stock, up previously from $37.00. They wrote, “TI guided Q1 rev to a range of $2.69B to $2.91B (-9% to -2% Q/Q) and pro forma EPS to be in a range of $0.24 to $0.32 (midpoint of $2.80B/$0.28). With our checks pointing to improving order patterns in February and replenishment orders post Chinese New Year, we look for TI to up its guidance to the higher end of the range at its Q1 mid-quarter update on March 7.”
- Texas Instruments was downgraded by analysts at Evercore Partners from an “overweight” rating to an “equal weight” rating.
- Texas Instruments had its “buy” rating reaffirmed by analysts at TheStreet. They wrote, “Texas Instruments (TXN) has been reiterated by TheStreet Ratings as a buy with a ratings score of B+ . The company’s strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
- Texas Instruments had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $30.00 price target on the stock.
- Texas Instruments had its “buy” rating reaffirmed by analysts at ISI Group. They wrote, “TI is scheduled to host its mid quarter update after the close on Thursday. We expect the company to narrow its revenue range to bracket the upper half of its prior outlook. Recall, TI had guided 1Q revenue in the range of $2.69b to $2.91b (-6% qoq to the midpoint). Of the forecasted decline, 4.5% points are expected to come from recently exited wireless segments, leaving the outlook for the core businesses about seasonal (-2% qoq) but largely behind outlooks from TI’s peers. We expect the core business to perform more in line with that of its competitors, and anticipate slight growth into the March quarter (in analog and embedded) with the potential benefit of some inventory replenishment, given that distributor inventory has fallen below 6 weeks.”
Texas Instruments opened at 35.00 on Wednesday. Texas Instruments has a 52-week low of $26.06 and a 52-week high of $35.01. The stock’s 50-day moving average is currently $33.52. The company has a market cap of $38.668 billion and a price-to-earnings ratio of 22.89.
Texas Instruments Inc. (TI) designs and makes semiconductors, which it sells to electronics designers and manufacturers globally.
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