Nomura Securities maintains a 'Neutral' on Texas Instruments (TXN); A Clear Loss As Analog Chief Leaves For Freescale (FSL)

Nomura Securities maintains a 'Neutral' on Texas Instruments (NASDAQ: TXN) price target of $34.00.

Analyst, Romit Shah, said, "Texas Instruments’ analog chief, Gregg Lowe, left the company to become president and CEO of Freescale Semiconductor (NYSE: FSL)...Mr. Lowe’s departure is a clear loss for TI. He was in charge of the largest business unit (55% of sales), oversaw the National acquisition and was the likely successor to CEO Templeton."

"At the same time, the company announced that Wireless and Embedded Processing will merge under Greg Delagi. This suggests that OMAP and connectivity will focus on segments outside of wireless moving forward. Brian Crutcher, who led the Embedded Processing business, will head up Analog."

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 $27.09 yesterday.

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