Needham & Company Updates Estimates on Texas Instruments (TXN) After Mid-Qtr Announcement
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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 maintains a 'Hold' on Texas Instruments (NASDAQ: TXN).
Analyst, Vernon Essi, Jr., said, "TI narrowed its Q2 guidance during its mid-Q update to $3.35B at the midpoint, unchanged from the prior guide of ~7% Q/Q growth. EPS guidance was similarly narrowed and unchanged at the midpoint of $0.34. In what was largely a status quo update, TI remains optimistic about business trends and cited that its product lines were tracking to initial expectations. Specifically, TI anticipates Analog and Embedded Processing businesses to post solid Q/Q performance with its Wireless business to decline (still hampered by OMAP related inventory corrections at smartphone and e-reader customers)."
"...we reduce our 2012E revenue/non-GAAP EPS from $13.7B/$1.83 to $13.6B/$1.80 while keeping our 2013E revenue/non-GAAP EPS unchanged at $14.9B/$2.35."
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 $27.65 yesterday.
Analyst, Vernon Essi, Jr., said, "TI narrowed its Q2 guidance during its mid-Q update to $3.35B at the midpoint, unchanged from the prior guide of ~7% Q/Q growth. EPS guidance was similarly narrowed and unchanged at the midpoint of $0.34. In what was largely a status quo update, TI remains optimistic about business trends and cited that its product lines were tracking to initial expectations. Specifically, TI anticipates Analog and Embedded Processing businesses to post solid Q/Q performance with its Wireless business to decline (still hampered by OMAP related inventory corrections at smartphone and e-reader customers)."
"...we reduce our 2012E revenue/non-GAAP EPS from $13.7B/$1.83 to $13.6B/$1.80 while keeping our 2013E revenue/non-GAAP EPS unchanged at $14.9B/$2.35."
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 $27.65 yesterday.
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