Needham & Company Reiterates a 'Hold' on Texas Instruments (TXN); Solid Q1; Restocking vs. End Demand Questions Still Hanging
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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 'Hold' on Texas Instruments (NASDAQ: TXN).
Analyst, Vernon Essi, Jr., said, "We continue to question whether the lift being seen is driven by actual end demand or inventory restocking at distributors, which is likely to be exaggerated by the lean channel inventories and TI’s internal inventory Q/Q growth of 97 days to 114 Q/Q. Strength was cited in the automotive and comm infrastructure end markets while consumer and wireless were weak. We adjust our 2012E revenue/EPS from $13.6B/$1.65 to $13.7B/$1.83 and left our 2013 revenue/EPS essentially unchanged at $14.9B/$2.35 We remain convinced lower entry points are likely in TXN shares on a pullback in semis, and we reiterate our rating."
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 $31.89 yesterday.
Analyst, Vernon Essi, Jr., said, "We continue to question whether the lift being seen is driven by actual end demand or inventory restocking at distributors, which is likely to be exaggerated by the lean channel inventories and TI’s internal inventory Q/Q growth of 97 days to 114 Q/Q. Strength was cited in the automotive and comm infrastructure end markets while consumer and wireless were weak. We adjust our 2012E revenue/EPS from $13.6B/$1.65 to $13.7B/$1.83 and left our 2013 revenue/EPS essentially unchanged at $14.9B/$2.35 We remain convinced lower entry points are likely in TXN shares on a pullback in semis, and we reiterate our rating."
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 $31.89 yesterday.
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