Nomura Securities Maintains a 'Reduce' on Texas Instruments (TXN); Look For Lowered Q2 and Full Year

Nomura Securities maintains a 'Reduce' on Texas Instruments (NYSE: TXN), PT $29.

Nomura analyst, Romit Shah, said, "TI provided an update to the company’s manufacturing facilities in Japan, reporting that both damaged fabs are on track or ahead of schedule for full recovery. The revenue loss in 1Q and 2Q 2011 remains to be determined and details of the financial impact will be announced when the company reports 1Q11 results on 4/18. While the recovery of TI’s manufacturing facilities in Japan is on track, we believe sell-through in the core segments – analog, MCU, and wireless – has weakened in March. We look for TI to guide revenue and EPS below consensus for Q2 and the full year."

For more ratings news on Texas Instruments click here and for the rating history of Texas Instruments click here.

Shares of Texas Instruments closed at $34.96 yesterday.

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