Needham & Company Reiterates a 'Hold' on Texas Instruments (TXN); Management Calling the Bottom on Ambiguous Demand

Needham & Company reiterates a 'Hold' on Texas Instruments (NASDAQ: TXN).

Needham analyst says, "TI posted Q4 results that were above our estimates and the Street, with revenue and EPS that were higher than mid-Q guidance. The Q1 guide came in below expectations but was lowered within seasonal norms (-2%) Q/Q discounting for the end of life declines in Wireless baseband. However, we believe this still represents less Q/Q growth than was anticipated by investors that bid up the shares last week."

"We adjusted our 2012 revenue/EPS from $14.7B/$2.25 to $13.9B/$1.80 and our 2013 revenue/EPS from $15.3B/$2.50 to $15.1B/$2.45."

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.

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