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.