Microchip maker Texas Instruments Inc. (TXN) on Monday caught a big downgrade from analysts at FBR Capital Markets.
The firm lowered its rating on TXN from “Market Perform” to “Underperform” with a $24.50 price target, suggesting a 9% downside to the stock’s Friday closing price of $27.02. FBR Capital also slashed its earnings estimates for the company, noting it expects TXN to pare its own guidance within the next couple of weeks.
Texas Instruments shares fell 44 cents, or -1.6%, in premarket trading Monday.
The Bottom Line
Shares of Texas Instruments (TXN) have a 2.52% dividend yield, based on Friday’s closing stock price of $27.02. The stock has technical support in the $24-$25 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.