Semiconductor maker Texas Instruments Incorporated ( TXN ) on Wednesday caught a downgrade from analysts at Sterne Agee.
The firm said it cut its rating on TXN from "Buy" to "Neutral," citing weakening industrial and consumer markets as a potential headwind for company earnings.
TXN stock has fallen more than 10% year-to-date, versus a less than 1% decline in the benchmark S&P 500 Index.
Texas Instruments shares were down slightly in premarket trading Wednesday.
The Bottom Line
Shares of Texas Instruments ( TXN ) have a 1.79% dividend yield, based on last night's closing stock price of $29.10. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.
Texas Instruments Incorporated ( TXN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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