Microchip maker Texas Instruments Incorporated (TXN) on Tuesday caught some bearish commentary from analysts at UBS.
The firm maintained its “Neutral” rating on TXN but lowered its price target to $30. That new target suggests a smaller 8.5% upside to the stock’s Monday closing price of $27.65.
UBS also cut its earnings estimates for T.I., citing the company’s tepid second quarter guidance.
Texas Instruments shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of Texas Instruments (TXN) have a 2.46% dividend yield, based on last night’s closing stock price of $27.65. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $29-$30 price levels.
Texas Instruments Incorporated (TXN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.