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Texas Instruments Cut to “Neutral” at Sterne Agee (TXN)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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