Jefferies Adjusts Estimates on Texas Instruments (TXN); Below Seasonal 3Q - But Good Fiscal Discipline
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Price: $35.71 --0%
Rating Summary:
12 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
12 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade TXN Now!
Jefferies maintains a 'Buy' on Texas Instruments (NASDAQ: TXN) price target of $33.00.
Analyst, Mark Lipacis, said, "TXN posted in-line revs and beat EPS by $0.04 due largely to better OpEx, but forecasted 3Q revenues 6% below consensus. We lower our estimates, but maintain our rating. We like TI's competitive position, and believe there is material leverage and cash flow once growth resumes. We forecast a FCF yield of 9% on our 2013 model, and model gross margins to expand by 380 bps over the next 4 quarters." (current qtr lowered from $0.53 to $0.46, FY12 from $1.79 to $1.73, and FY13 from $2.37 to $2.25)
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $26.82 yesterday, with a 52 week range of $24.34-$34.24.
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Analyst, Mark Lipacis, said, "TXN posted in-line revs and beat EPS by $0.04 due largely to better OpEx, but forecasted 3Q revenues 6% below consensus. We lower our estimates, but maintain our rating. We like TI's competitive position, and believe there is material leverage and cash flow once growth resumes. We forecast a FCF yield of 9% on our 2013 model, and model gross margins to expand by 380 bps over the next 4 quarters." (current qtr lowered from $0.53 to $0.46, FY12 from $1.79 to $1.73, and FY13 from $2.37 to $2.25)
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $26.82 yesterday, with a 52 week range of $24.34-$34.24.
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