Semiconductor maker Texas Instruments, Inc. (
) on Wednesday received some mixed commentary from analysts at
Jefferies & Co.
The firm reiterated its "Buy" rating and $33 price target on
TXN, which suggests a 15% upside to the stock's Tuesday closing
price of $28.58. However, Jefferies lowered its 2012 earnings
estimate from $1.73 to $1.69 per share, and its 2013 view from
$2.25 to $2.12.
A Jefferies analyst commented, "Ex-$60m insurance proceeds from
last year's Japan quake, TI missed its prior SepQ revenue guidance
by 185bps but met the EPS target at the mid-point due to cost
reductions. TI noted flat Auto and Wireless slightly better due to
OMAP in new tablets. We like TI's 2013 FCF yield of 8.5%, and
dividend yield of 2.4%. We view its weaker signal as a slight
caution for Analog Devices (
), Linear (Nasdaq: LLTC), and Maxim Intergrated (Nasdaq:
Texas Instruments shares were mostly flat in premarket trading
The Bottom Line
Shares of Texas Instruments (
) have a 2.38% dividend yield, based on last night's closing stock
price of $28.58. The stock has technical support in the $26-$27
price area. If the shares can firm up, we see overhead resistance
around the $30-$32 price levels.
Texas Instruments, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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