Analyst Gurinder Kalra of Bear Stearns maintains his "outperform" rating on Texas Instruments (TXN.NYS), while reducing his estimates for the company. The target price has been reduced from $32 to $27.
Shares of Texas Instruments, a leading semiconductor company that focuses on the production of integrated circuits and digital signal processors, are currently trading at $19.
According to Bear Stearns' research note published this morning, the company’s share price has recently been under significant pressure. The analyst believes that the decline in Texas Instruments' share price is overdone, although the wireless and component demand environment is likely to remain sluggish in 2H04. Texas Instruments' weak Q3 performance is already factored into the company’s share price, the analyst says.
Texas Instruments is expected to grow faster than the overall wireless industry in the forthcoming quarters, boosted by the company’s market leading position in supplying components for next-generation mobile handsets, according to Bear Stearns. Investor concerns surrounding the company's analog inventory levels are inflated, the analyst believes.
The EPS estimates for 2004 and 2005 have been reduced from $1.04 to $1.03 and from $1.38 to $1.35, respectively.
Bear Stearns maintains its "outperform" rating on Texas Instruments. <<
Analyst Ren Zamora of Loop Capital maintains his "outperform" rating on Texas Instruments (TXN.NYS), while reducing his estimates for the company. The target price has been reduced from $36 to $27.
Shares of Texas Instruments, a leading provider of semiconductor solutions to the electrical and electronics industry, are currently trading at $18.54.
Loop Capital expects Texas Instruments' stock performance to improve in the near term, boosted by the company’s performance during the upcoming holiday season. Texas Instruments' stock is expected to outperform that of its peers in the long term, given the company's diversified product offerings, according to the analyst.
The EPS estimates for 2004 and 2005 have been reduced from $1.06 to $0.98 and from $1.46 to $1.27, respectively. The P/E estimate for 2005 is 14.6x.
Loop Capital maintains its "outperform" rating on Texas Instruments. <<
Analyst Ashok Kumar of Raymond James reiterates his "outperform" rating on Texas Instruments Inc (TXN.NYS), while reducing his estimates for the company. The target price has been reduced from $35 to $24. In a research note published yesterday, the analyst mentions that the company reported its Q2 revenues and EPS in-line with the estimates. The company has announced disappointing guidance for the September quarter, reflecting the order slowdown witnessed in June, the analyst adds. The EPS estimates for 2004 and 2005 have been reduced from $1.05 to $1.00 and from $1.33 to $1.20, respectively <<
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