Ascendiant Capital Raises Texas Instruments Price Target
Ascendiant Capital on Tuesday reiterated Texas Instruments Incorporated (NASDAQ: TXN) as a Buy and raised their price target to $64 from $56.
Analysts Cody Acree and David Williams wrote, “The firm maintained gross margins at 58%, down just 40 bps sequentially from last quarter's record of 58.4%, on a 6.6% sequentially reduction in sales. With an approximate 75% incremental margin and a consistently richer mix in analog and embedded, we expect the firm's gross margins to move higher with revenue growth in the June quarter.”
The company's fourth-quarter sales were $3.27 billion, which matched analysts' estimates. EPS was $0.76, which adjusting for two one-time items also matched analyst estimates of $0.69. Texas Instruments increased distribution re-sales by 14 percent and orders by 11 percent from last year.
Shares of Texas Instruments closed Monday at $55.05.
Latest Ratings for TXN
|Jan 2017||Credit Suisse||Upgrades||Neutral||Outperform|
|Dec 2016||Summit Redstone Partners||Initiates Coverage On||Buy|
|Dec 2016||Susquehanna||Initiates Coverage On||Positive|
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