FBR Capital Maintains an 'Outperform' on Texas Instruments (TXN); Still Solid Results with Some Japan Supply Chain
Tweet
Share
E-mailGet Alerts TXN Hot Sheet
Price: $279.58 +2.25%
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
FBR Capital maintains an 'Outperform' on Texas Instruments (NYSE: TXN), PT $40.
FBR analyst says, "Texas Instruments (TI) reported 1Q11 financial results largely as expected, with inline revenues of $3.4B (–4% QOQ, +6% YOY), and with some gross margin (100 bps) and EPS ($0.02) impacts from the Japanese earthquake and related disruptions. For 2Q11, management guided revenues to grow 1%–9% sequentially, in line with the Street, but with lower-than-expected gross margins hitting EPS guidance, as many expected. For 2Q11, TI said lingering Japanese earthquake impacts would drive $0.05 of revenue bad news as Japanese customer demand is hit, and $0.05 of gross margin bad news as its Japanese fabs ramp back into production. So, management claims that 2Q11 EPS guidance of $0.52–$0.60 would have been closer to $0.62–$0.70 without the Japanese earthquake, solidly better than the Street's $0.63."
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 $34.79 yesterday.
FBR analyst says, "Texas Instruments (TI) reported 1Q11 financial results largely as expected, with inline revenues of $3.4B (–4% QOQ, +6% YOY), and with some gross margin (100 bps) and EPS ($0.02) impacts from the Japanese earthquake and related disruptions. For 2Q11, management guided revenues to grow 1%–9% sequentially, in line with the Street, but with lower-than-expected gross margins hitting EPS guidance, as many expected. For 2Q11, TI said lingering Japanese earthquake impacts would drive $0.05 of revenue bad news as Japanese customer demand is hit, and $0.05 of gross margin bad news as its Japanese fabs ramp back into production. So, management claims that 2Q11 EPS guidance of $0.52–$0.60 would have been closer to $0.62–$0.70 without the Japanese earthquake, solidly better than the Street's $0.63."
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 $34.79 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Movano (MOVE) Misses Q2 EPS by 195c
- SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
EarningsSign 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!
