TXN - Texas Instrument

Texas Instruments (TXN) numbers reduced at Oppenheimer.Shares of TXN now seen reaching $37. Estimates also cut, given lower expected order rates. Outperform rating.

Kaufman Brothers’ Mike Burton thinks the 3% growth that TI originally forecast for the quarter looks “aggressive,” and instead he sees results coming in flat, based on “sub-seasonal trends we are picking up from our channel checks,” and also results from “analog peers.”

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Svanberg sees “sluggish order rates and a heightened degree of pessimism in relation to 2H11 demand trends,” with weakness “broad-based” and not limited to any one market.

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