Market Overview

UPDATE: Credit Suisse Downgrades Texas Instruments to Neutral on Capacity Risk

Share:
Related TXN
Mike Khouw Sees Unusual Options Activity In Texas Instruments
Benzinga's Weekend M&A Chatter

Credit Suisse reduced its rating on Texas Instruments (NASDAQ: TXN) from Outperform to Neutral and lowered its price from $32 to $26.

Credit Suisse commented, "TXN has positioned itself well for a 2009-like recovery - significant capacity to capture market share as competitors see lead-times stretch out in the face of a V-like business environment. Unfortunately, extra capacity is an asset in a V-recovery and is a liability in the current low growth environment driven by (1) Macro concerns, (2) what we expect to be muted rev growth for handset levered Semis (15-18% of TXN revenue) and (3) $1.1bn (annually) in rev headwinds as the company repositions OMAP/connectivity."

Texas Instruments closed at $27.17 on Wednesday.

Latest Ratings for TXN

DateFirmActionFromTo
May 2015Mizuho SecuritiesInitiates Coverage onNeutral
Apr 2015Raymond JamesUpgradesMarket PerformStrong Buy
Apr 2015Bank of AmericaDowngradesNeutral

View More Analyst Ratings for TXN
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (TXN)

Around the Web, We're Loving...

Get Benzinga's Newsletters