Wedbush Reiterates “Outperform” rating on Texas Instruments (TXN)
Wedbush reported on Monday that it has maintained its current “Outperform” rating on semiconductor manufacturer, Texas Instruments Incorporated (TXN).
The firm has reaffirmed an “Outperform” rating and $39 price target on the company. This price target suggests a 9.5% increase from the stock’s current price of $35.29.
An analyst from the firm commented, “in-line with our expectations, Texas Instruments (TXN) narrowed top and bottom line guidance to the upper half of its prior guidance ranges at the Q1 mid-quarter update with TI noting improved order trends from Dec and Jan have continued with orders growing strongly YTD. With the semi cycle recovery still in the very early stages, we see TI as our best big-cap stock for investors to play the overall recovery as TI benefits from higher utilization rates pushing GM higher and market share gains driving a return to Q/Q earnings and revenue growth.”
Texas Instruments shares were mostly flat during premarket trading Monday. The stock has increased 9% in the past year.
The Bottom Line
Shares of Texas Instruments Incorporated (TXN) have a 3.17% yield, based on Friday’s closing price of $35.29.
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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