Oppenheimer Reiterates an 'Outperform' on Texas Instruments (TXN); 4Q Mid-Quarter Preview
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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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Oppenheimer reiterates an 'Outperform' on Texas Instruments (NYSE: TXN) price target of $37.00.
Oppenheimer analyst said, "TXN hosts its 4Q mid-quarter update after the close Thursday (12/8). We expect the company to narrow its 4Q outlook around the midpoint of prior revenue/EPS guidance of $3.26B-$3.54B and $0.28-$0.36, respectively (consensus $3.4B/$0.32). The 2% Q/Q decline comes despite an initial $300M contribution from NSM. We believe TXN continues to see the same broad-based weakness evidenced by peers, but signs of stabilization are emerging. While demand trends have yet to rebound, inventory remains lean and lead-times short, which we believe are indicative of an approaching cyclical bottom. While we do not see Thursday's
call as a meaningful catalyst for shares, we continue to believe in TXN's long-term, analog-driven share gain story and would be buyers at current levels."
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $30.23 yesterday.
Oppenheimer analyst said, "TXN hosts its 4Q mid-quarter update after the close Thursday (12/8). We expect the company to narrow its 4Q outlook around the midpoint of prior revenue/EPS guidance of $3.26B-$3.54B and $0.28-$0.36, respectively (consensus $3.4B/$0.32). The 2% Q/Q decline comes despite an initial $300M contribution from NSM. We believe TXN continues to see the same broad-based weakness evidenced by peers, but signs of stabilization are emerging. While demand trends have yet to rebound, inventory remains lean and lead-times short, which we believe are indicative of an approaching cyclical bottom. While we do not see Thursday's
call as a meaningful catalyst for shares, we continue to believe in TXN's long-term, analog-driven share gain story and would be buyers at current levels."
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $30.23 yesterday.
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