Analyst Calls Tone of Texas Instruments (TXN) Guidance 'Subdued'
Yesterday Texas Instruments (NASDAQ: TXN) updates its fourth-quarter 2012 business outlook. Mid-point Q4 revenue was unchanged, and EPS was raised by a penny to 34 cents. Analyst Romit Shah of Nomura Securities said he viewed the company's commentary about end markets "subdued".
"PCs continue to be weak. Industrial customers continue to reduce inventory while consumer and automotive are mixed. Communications infrastructure spending is weak across the U.S., Europe and China."
Additional, Shah pointed out that while channel inventory remains low, management noted that communications infrastructure customers and distributors are still lowering their inventory balances.
Nomura Securities has a Neutral rating on Texas Instruments (NASDAQ: TXN) with a price target of $26.00.
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 $29.82 yesterday, with a 52 week range of $26.06-$34.24.
"PCs continue to be weak. Industrial customers continue to reduce inventory while consumer and automotive are mixed. Communications infrastructure spending is weak across the U.S., Europe and China."
Additional, Shah pointed out that while channel inventory remains low, management noted that communications infrastructure customers and distributors are still lowering their inventory balances.
Nomura Securities has a Neutral rating on Texas Instruments (NASDAQ: TXN) with a price target of $26.00.
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 $29.82 yesterday, with a 52 week range of $26.06-$34.24.