UBS Cuts Estimates and Price Target on Texas Instruments (TXN); Demand Concerns
Tweet Send to a FriendGet Alerts TXN Hot Sheet
Price: $36.77 +0.46%
Rating Summary:
11 Buy, 23 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 23 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade TXN Now!
UBS maintains a 'Neutral' on Texas Instruments (NASDAQ: TXN) price target of $30.00 (from $35.00).
Analyst, Uche Orji, said, "TXN tightened its outlook for 2Q to Rev/EPS of $3.28-3.42B/32-36c, vs. prior of $3.22–3.48B/30-38c. The company indicated that the orders are trending in line with expectations and inventory in the channel remains low at 6.5 weeks as distributors and OEMs are hesitant to restock inventories. Despite TI’s commentary of stable end-market trends, we remain concerned about end-demand, as leading indicators such as PMI from US, China and Euro Zone point to a weakening demand environment."
UBS lowers FY12 EPS estimate from $1.82 to $1.77 and FY13 from $2.19 to $2.05.
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 $27.65 yesterday, with a 52 week range of $24.34-$34.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Uche Orji, said, "TXN tightened its outlook for 2Q to Rev/EPS of $3.28-3.42B/32-36c, vs. prior of $3.22–3.48B/30-38c. The company indicated that the orders are trending in line with expectations and inventory in the channel remains low at 6.5 weeks as distributors and OEMs are hesitant to restock inventories. Despite TI’s commentary of stable end-market trends, we remain concerned about end-demand, as leading indicators such as PMI from US, China and Euro Zone point to a weakening demand environment."
UBS lowers FY12 EPS estimate from $1.82 to $1.77 and FY13 from $2.19 to $2.05.
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 $27.65 yesterday, with a 52 week range of $24.34-$34.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Deutsche Bank Takes Aegerion (AEGR) Price Target from $52 to $85
- Needham & Company Remains on Sidelines wth Applied Materials (AMAT) Post Q2
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
