Market Overview

UPDATE: Sterne Agee Downgrades Texas Instruments to Underperform on Valuation, Wireless Exit

Share:
Related TXN
Chip Stocks Mostly Soar As Intel Raises Q3 Guidance
Bernstein Upgrades Texas Instruments, Says 'Margins Still Look Too Low'
Nvidia, Alphabet, Facebook In Proving Ground (Investor's Business Daily)

Sterne Agee reduced its rating on Texas Instruments (NASDAQ: TXN) from Neutral to Underperform with a $27 price target.

Sterne Agee said, "We believe a 2013 exit from the wireless segment (~$800M in C12E) could be drag on top line/margins, even as Industrial-Communication markets improve. TXN also trades at a premium 23.5x versus the Analog group at 18.1x. With TXN not rationalizing any Fab capacity we believe there will be further downside to 1H13 consensus estimates and TXN top-line/margin improvement will lag its peers."

Texas Instruments closed at $30.80 on Thursday.

Latest Ratings for TXN

DateFirmActionFromTo
Sep 2016BernsteinUpgradesMarket PerformOutperform
Sep 2016BernsteinUpgradesMarket PerformOutperform
Aug 2016Exane BNP ParibasUpgradesUnderperformNeutral

View More Analyst Ratings for TXN
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (TXN)

View Comments and Join the Discussion!