Nomura Securities Maintains a 'Neutral' on Texas Instruments (TXN); Q2 Not So Good; Q3 Outlook Worse Than Peers
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Price: $174.81 --0%
Rating Summary:
18 Buy, 23 Hold, 6 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
18 Buy, 23 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Nomura Securities maintains a 'Neutral' on Texas Instruments (NASDAQ: TXN) price target of $30.00 (from $32.00).
Analyst, Romit Shah, said, "Revenue of $3.34bn (+9%) was slightly below our estimate of $3.35bn. TI guided Q3 sales flat (down 4% to up 4%), below normal seasonality of 6% growth. This outlook is worse than Intel (Nasdaq: INTC) (+6% vs +9% seasonal) and Xilinx (Nasdaq: XLNX) core sales (-2% vs -1% seasonal). R&D and SG&A came in at $936mn (-4%), well below our estimate of $1,006bn. As such, EBIT margin increased 520 bps to 21.4% in Q2. We lower EPS from $0.50 to $0.45 in Q3, from $1.67 to $1.60 in C12, and from $2.10 to $1.95 in C13."
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 $26.82 yesterday.
Analyst, Romit Shah, said, "Revenue of $3.34bn (+9%) was slightly below our estimate of $3.35bn. TI guided Q3 sales flat (down 4% to up 4%), below normal seasonality of 6% growth. This outlook is worse than Intel (Nasdaq: INTC) (+6% vs +9% seasonal) and Xilinx (Nasdaq: XLNX) core sales (-2% vs -1% seasonal). R&D and SG&A came in at $936mn (-4%), well below our estimate of $1,006bn. As such, EBIT margin increased 520 bps to 21.4% in Q2. We lower EPS from $0.50 to $0.45 in Q3, from $1.67 to $1.60 in C12, and from $2.10 to $1.95 in C13."
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 $26.82 yesterday.
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