Market Overview

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

Share:
Related TXN
Oppenheimer Technical Analysts See Continued Rally In S&P 500; Recommend 3M And General Electric
Increase In Car Electronics Makes Autos A Major Key In Semiconductor Space
Silicon Labs Delivers On Some Of Its Promises, But Not On Sale (Seeking Alpha)

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
May 2016CLSAInitiates Coverage onUnderperform
Apr 2016B. RileyMaintainsNeutral
Apr 2016Raymond JamesDowngradesStrong BuyOutperform

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!