Due to Texas Instruments Incorporated's (
) exit from the wireless sector, analysts at Sterne Agee downgraded
the company on Monday.
The analysts downgraded TXN from "Neutral" to "Underperform."
The firm sees shares of TXN reaching $27, a -12.3% downside from
Friday's closing price of $30.80.
Sterne Agee notes that Texas Instruments departure of the
wireless segment of its business will result in sales and margins
taking a hit in the future.
Texas Instruments shares were down 43 cents, or -1.39%, in
premarket trading on Monday.
The Bottom Line
Shares of Texas Instruments (
) have a 2.73% dividend yield, based on Friday's closing stock
price of $30.80. The stock has technical support in the $27-$28
price area. If the shares can firm up, we see overhead resistance
around the $31-$32 price levels.
Texas Instruments Incorporated (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com