Nomura Securities Adjusts Estimates on Texas Instruments (TXN) as Tone Softens

Nomura Securities maintains a 'Neutral' on Texas Instruments (NASDAQ: TXN) price target of $32.00 (from $34.00).

Analyst, Romit Shah, said, "TI maintained its guidance for Q2, but comments for the second half of the year seem guarded given the macro backdrop. Our gut feeling at this point is that Q3 is up mid single digits vs. normal seasonal of up 10%. As such, we maintain a Neutral rating, but reduce our price target...Our adjusted EPS estimate for 2012 declines from $1.78 to $1.67, and for 2013 from $2.20 to $2.10."

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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