Nomura Securities Maintains a 'Reduce' on Texas Instruments (TXN); Updating Estimates to Reflect Weaker Analyst Trends and NSM Acquisition

Nomura Securities maintains a 'Reduce' on Texas Instruments (NYSE: TXN) price target lowered from $26 to $22.

Nomura analyst, Romit Shah, said, "While a Q3 miss on Thursday is likely well understood at this point, we believe Q4 will prove to be a disappointing quarter as well. Furthermore, we believe investors have yet to incorporate the NSM acquisition, which leverages the balance sheet and provides only modest EPS accretion. Our 2011E EPS goes to $2.17 from $2.30 and 2012E to $2.20 from $2.38."

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 $24.91 yesterday.

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