First Global Upgrades Texas Instruments (TXN) to Market Perform

June 15, 2009 9:18 AM EDT

First Global upgrades Texas Instruments (NYSE: TXN) to Market Perform.

First Global analyst say, "The dark clouds of demand destruction hovering over the end markets finally
appear to be lifting. TXN has raised its revenue and EPS guidance for Q2 CY09, on the back of an improved sales outlook for analog chips that are used in phones, consumer electronics, cars and industrial equipments, which it now expects to be the key growth driver. We believe that as customers reduce their inventory at a slower rate in comparison to that in Q1 CY09, a number of companies in the technology sector are set to deliver a better performance in Q2 CY09. Despite the increasingly competitive environment, TXN remains well positioned to enjoy the renewed growth in higher-margin 3G cell phone chips for key customers, such as Nokia (NYSE: NOK), Motorola (NYSE: MOT), NTT DoCoMo (NYSE: DCM), Samsung, LG Electronics among others, who are rolling out new 3G phones to compete with the Apple iPhone (Nasdaq: AAPL)."

To see more analyst ratings on TXN Click Here.

Texas Instruments Incorporated (TI) is engaged in designing and producing semiconductors that it sells to electronics designers and manufacturers.

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