Texas Instruments upgraded by Seaport Global from Sell to Neutral.
Texas Instruments (TXN) has seen its stock rating upgraded from "Sell" to "Neutral" by Seaport Research analyst Jay Goldberg. This shift in rating reflects a more balanced outlook on the semiconductor company's prospects and performance.
The upgrade comes amidst a mixed outlook for the semiconductor industry, with analysts offering varying price targets and recommendations. Seaport Global's upgrade suggests a cautious but more optimistic view of TXN's future, following recent earnings reports and market trends.
Key financial highlights from TXN's latest earnings include a 11% year-over-year revenue increase to $4.1 billion, driven by strong performance in the analog segment. Gross profit margin decreased by 90 basis points sequentially, indicating some pressure on profitability, while operating expenses increased by 6% from the previous year. The company maintained a strong balance sheet with $5 billion in cash and short-term investments, providing financial stability.
Analysts' forecasts for TXN's stock price range from $125 to $260, with an average target of $193.35, suggesting a potential downside of 10.74% from the current price of $216.62. The consensus recommendation from 41 brokerage firms is currently "Hold," with an average brokerage recommendation of 2.7. GuruFocus estimates TXN's GF Value to be $168.85 in one year, indicating a downside of 22.05% from the current price.
Recent market developments and analyst updates have influenced TXN's stock price and rating. Stifel raised its price target to $192.00, while Bank of America adjusted its target to $218, reflecting a more optimistic view of TXN's financial outlook. Despite these upgrades, the company continues to face challenges, including uncertainty in the global market and potential weakness in the personal electronics segment.
Investors should closely monitor TXN's earnings reports and analyst updates to assess the company's performance and make informed investment decisions.
References:
[1] https://www.gurufocus.com/news/2989406/texas-instruments-txn-receives-upgrade-from-seaport-research-txn-stock-news
[2] https://www.gurufocus.com/news/2987895/stifel-raises-price-target-for-texas-instruments-txn-to-192-txn-stock-news
[3] https://finance.yahoo.com/news/texas-instruments-txn-reports-earnings-030539520.html
[4] https://www.gurufocus.com/news/2989082/bofa-adjusts-price-target-for-texas-instruments-txn-amid-market-dynamics-txn-stock-news
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