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UPDATE - Needham & Company Downgraded Texas Instruments (TXN) to Hold; Take Advantage of the Recent Upswing

January 20, 2012 10:32 AM EST Send to a Friend
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Price: $46.48 +0.50%

Rating Summary:
    15 Buy, 22 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 39 | Down: 30 | New: 13
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UPDATE - Needham & Company downgraded Texas Instruments (NASDAQ: TXN) from Buy to Hold.

Needham analyst said, "Per our earnings preview published today entitled "Don't Expect a Linear Correlation this Earnings Season" we believe that the
recent boost in share price and investor sentiment in our universe is applicable to select names and not the overall Analog/Mixed Signal group. Specifically with TXN shares we do not anticipate there to be much upside in store for investors when Q4 earnings are reported on Monday; rather we expect an in line print for Q4 and the 1.5% Q/Q consensus revenue decline may in fact turn out to be flat Q/Q or, optimistically, flat to up 2%. This is not enough, in our view, and we believe investors will be selling on the news. Additionally, TXN has exceeded our prior price target of $31."

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