Goldman Sachs Expects Outperformance On Texas Instruments

In a report published Goldman Sachs expects outperformance on Texas Instruments TXN.

Goldman Sachs said that Texas Instruments narrowed its revenue and EPS guidance to the midpoint of the prior range in its mid-quarter update on March 8. “Management now
expects revenue of $3,340-$3,480 mn (down 1% to 5% qoq), compared to up 1% to down 7% previously, and EPS of $0.56-$0.60 from $0.54-$0.62 prior. By end market, the company is seeing relative weakness in handsets and comms infrastructure as is typical in 1Q, a slight recovery in PCs after weakness from Intel's chipset recall in February, and continued strength in the industrial and automotive markets. Lead times remain at normal levels, consistent with commentary by management on the 4Q10 earnings call.”

Texas Instruments closed yesterday at $35.86.