Kaufman Bros. Downgrades Texas Instruments (TXN) to Hold; Shares Reflect Business and Gross Margin Bottoming

Kaufman Bros. downgraded Texas Instruments (NASDAQ: TXN) from Buy to Hold, but raises price target from $32 to $35.

Kaufman analyst said, "We are moving to the sidelines on TXN shares after a meaningful move up, which we believe already discounts much of the bottoming in orders and widely anticipated margin leverage by the Street."

"As the stock is indicated at $34.34, we believe there is more upside in other semiconductor names that we cover such as Broadcom (Nasdaq: BRCM)(BUY, $42 PT), NVIDIA (Nasdaq: NVDA)(BUY, $18 PT), and QUALCOMM (Nasdaq: QCOM)(BUY, $65 PT). We do believe the analog sector is in a cyclical bottoming process and would look to become more constructive on TXN shares if the stock were to trade down significantly following its earnings report."

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 $33.19 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla to launch Cybercab in Austin this month - report
• Yalla Group Limited (YALA) Reports Q2 EPS of $0.24
• Yum! Brands (YUM) PT Lowered to $180 at Argus