Zacks Upgrades Texas Instruments, Comments on Strong Earnings (TXN)

Texas Instruments (NYSE: TXN) was upgraded by Zacks Investment Research from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday. They currently have a $35.00 price target on the stock.

Zacks’ analyst wrote, “TI is one of the largest suppliers of analog and DSP integrated circuits. December quarter earnings exceeded the Zacks Consensus. While orders continued to disappoint, pulling down the backlog, turns started to look up toward the end of the quarter. Forward guidance was also much lower than expectations, impacted by the Thailand floods and a weaker-than-expected industrial business. Therefore, the company’s compelling product line, market share gains and strategic refocus is not likely to do much good in the next few quarters. We therefore have a Neutral rating on TXN shares.”

Separately, analysts at Needham & Company downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a research note to investors on Monday, January 30th. Analysts at Deutsche Bank (NYSE: DB) reiterated a “hold” rating on shares of Texas Instruments in a research note to investors on Tuesday, January 24th. Also, analysts at Jefferies Group (NYSE: JEF) reiterated a “buy” rating on shares of Texas Instruments in a research note to investors on Tuesday, January 24th.

Texas Instruments Incorporated (TI) is engaged in the designing and making of semiconductors that it sells to electronics designers and manufacturers worldwide. In addition, it sells calculators and related products. As of December 31, 2010, the Company had design, manufacturing or sales operations in more than 30 countries. TI has four segments: Analog, Embedded Processing, Wireless and Other. Its products are sold to original equipment manufacturers (OEMs), original design manufacturers (ODMs), contract manufacturers and distributors. The Company’s trademarks include Texas Instruments, OMAP and DLP. In September 2011, the Company acquired National Semiconductor.

Texas Instruments traded down 0.54% on Tuesday, hitting $33.43. Texas Instruments has a 52-week low of $24.34 and a 52-week high of $36.71. The stock has a 50-day moving average of $31.17 and a 200-day moving average of $29.25. The company has a market cap of $38.093 billion and a price-to-earnings ratio of 17.88.

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Posted by Web Inquirer Staff on 7 Feb 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry