Analysts’ Weekly Ratings Changes for Texas Instruments (TXN)
Several investment firms have updated their stock ratings and price targets on shares of Texas Instruments (NYSE: TXN) in the last week:
- Texas Instruments had its price target raised by analysts at RBC Capital from $26.00 to $27.00. They now have a “sector perform” rating on the stock.
- Texas Instruments had its price target raised by analysts at Jefferies Group from $33.00 to $35.00. They now have a “buy” rating on the stock. They wrote, “TI announced it will lower annual costs by $450m by EOY13, consistent with its strategy to focus its Wireless business on the embedded markets. We now forecast 6% FCF growth in 2013, FCF yield of 8.4% off our CY13 estimates. We like the 2.9% dividend yield, and view TXN as a beneficiary of transistor cost inflection we call “Moore Stress.” We remain buyers of TXN.”
- Texas Instruments had its “buy” rating reaffirmed by analysts at Jefferies Group.
- Texas Instruments ‘s EPS estimates were raised by analysts at UBS AG. They now have a “neutral” rating and a $30.00 price target on the stock. They previously had a $28.00 price target on the stock.
- Texas Instruments had its price target raised by analysts at Deutsche Bank to $27.00. They wrote, “TXN announced cost reduction actions that it expects will yield $450m in annualized savings by the end of 2013. While some kind of restructuring in the OMAP business was expected, the magnitude of the planned cuts (1,700 jobs or ~5% of total) is larger than expected and is accretive to our CY13 estimates. However, we believe some investors will be disappointed that a buyer for the smartphone/tablet business did not emerge as hoped. Overall, we raise our P/T to $27 (from $26) on higher CY13 ests but retain a Hold rating as the stock appears fairly valued at current levels.”
- Texas Instruments had its “equalweight” rating reaffirmed by analysts at Barclays Capital.
Texas Instruments opened at 28.79 on Friday. Texas Instruments has a 52-week low of $26.06 and a 52-week high of $34.24. The company has a market cap of $32.268 billion and a price-to-earnings ratio of 18.87.
Texas Instruments Inc. (TI) designs and makes semiconductors, which it sells to electronics designers and manufacturers globally.