Texas Instruments’ Target, Estimates Lowered at Oppenheimer (TXN)

Microchip maker Texas Instruments Inc. (TXN) on Thursday caught some tepid commentary from analysts at Oppenheimer & Co.

The firm maintained its “Outperform” rating on TXN but lowered its price target to $35. That new target suggests a still-solid 28% upside to the stock’s Wednesday closing price of $27.30.

Oppenheimer also lowered its earnings estimates for the company, citing signs of a macroeconomic slowdown.

Texas Instruments shares posted modest losses in premarket trading Thursday.

The Bottom Line
Shares of Texas Instruments (TXN) have a 2.49% dividend yield, based on last night’s closing stock price of $27.30. The stock has technical support in the $25-$27 price area. If the shares can firm up, we see overhead resistance around the $30-$31 price levels.

Texas Instruments Inc. (TXN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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.

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