Needham & Company Reiterates a 'Buy' on Texas Instruments (TXN); Q2 Guidance Lower on Baseband Decline
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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
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Needham & Company reiterates a 'Buy' on Texas Instruments (NYSE: TXN), PT $38.
Needham analyst says, "TI lowered its Q2 guidance during its mid quarter update to $3.36B to $3.50B and $0.51 to $0.55 EPS. TI cited that the weakness was a result of lower overall demand from Nokia, primarily affecting Baseband revenue. The company continues to expect a stronger market in 2H 2011. As the Japan facilities return to production at the end of Q2, TI will have put behind issues that have hampered it in the current calendar year. We feel investors should view any weakness on this news as an opportunity...Reiterate rating and price target based on 13X our 2012 EPS of $2.75 and net cash per share of $2.39."
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 $32.67 yesterday.
Needham analyst says, "TI lowered its Q2 guidance during its mid quarter update to $3.36B to $3.50B and $0.51 to $0.55 EPS. TI cited that the weakness was a result of lower overall demand from Nokia, primarily affecting Baseband revenue. The company continues to expect a stronger market in 2H 2011. As the Japan facilities return to production at the end of Q2, TI will have put behind issues that have hampered it in the current calendar year. We feel investors should view any weakness on this news as an opportunity...Reiterate rating and price target based on 13X our 2012 EPS of $2.75 and net cash per share of $2.39."
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 $32.67 yesterday.
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