TheStreet.com's Jim Cramer says when the dust settles, we'll notice the reduced equity here, and stocks will rise to reflect it.
Do corporate balance sheets matter? One of the things that you will see in the next few weeks is everyday industrial companies brimming with cash. Y...
In his Forbes Wireless Stock Watch the advisor explains, "But things may not be as dire as they sound and I think that with expectations down, the company will end up exceeding expectations in the second half of this year."
"One reason Wall Street has been negiative is that TXN's biggest wireless customer, Nokia, announced a fundamental shift, stating it would no longer depend mostly on Texas Instruments for its chips. Ericsson also said it had shifted to a multi-
"Wall Street has recently been very negative about Texas Instruments (NYSE: TXN)," notes wireless sector expert Nikhil Hutheesing. In his Forbes Wireless Stock Watch, the advisor explains, "But things may not be as dire as they sounded last month and I think that with expectations down, the company will end up exceeding expectations in the second half of this year."
"One reason Wall Street has been negiative is that TXN's biggest wireless customer, Nokia, announced a fundamental shift, stating it would no longer depend mostly on
Texas Instruments Incorporated engages in the design, manufacture, marketing, and sale of high-technology components in the United States and internationally. It operates in two segments, Semiconductor and Education Technology. The Semiconductor segment offers analog semiconductors and digital signal processors, which are used in applications that serve the communications, computer, consumer electronics, automotive, and industrial markets. This segment also designs and manufactures other types of semiconductors, such as microcontrollers, a microprocessor designed to control a very specific ...
5/19 - Citi's Glen Yeung is upgrading Texas Instruments (TXN) to Buy from Hold, reversing an earlier downgrade. Yeung has also boosted TXN's target price to $39 from $31. FQ208 and FY08 estimates go to $0.46 and $1.99 from $0.45 and $1.56 respectively. Yeung is upbeat about TXN's performance in handsets:
'Our field checks suggest that rolling forecasts from TI's largest handset customer point to a significant increase in chip orders in 2H08 versus 1H08, driven by new product launch and depleted inventories...Meanwhile, our checks also indicate that TI is holding onto Nokia share better tha...
5/29 - "Texas Instruments (NYSE: TXN) shares are trading higher after Nokia (NYSE: NOK) reported that its single-chip plan is still on track despite Infineon (NYSE: IFX), a supplier for NOK, announcing yesterday that it is seeing some delays. TXN is supplying NOK with GSM single chips for its mobile handsets and may be called upon to pick up the slack during this delay."
"For a bullish hedged play on this stock, I would consider an October bull-put credit spread below the $27.50 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hed...
TI's Analog business is tracking along normal seasonality, with projected gross margin stable. We would note that this tone is in contrast to to National Semi's (NSM, $17.82, Hold) recently reported weak results. TI derived ~ 40% revenue from Analog in Dec Q. We believe the company is gaining share from its Analog rivals, especially in the high-performance space...We believe most of the shortfall in TI's Mar Q guidance was due to Nokia. In our opinion, volatility in TI's Nokia business would be a source of much uncertainty for the stock in 2008...Our $32 PT is based on PE of 16x applied to ...
We believe handset demand in China has recently weakened, and competition in the analog vertical is increasing. Both of these negatives, when combined with likely increasing wireless market share pressures in 2008, prompt us to expect further negative estimate revisions and maintain our SELL rating on TXN...Our price target is lowered from $26 to $25. TXN's price target of $25 is 13x our C2008 EPS estimate of $1.93. This is a discount to a 15.1x multiple for our coverage universe.
Despite the reduced guidance, we maintain our Buy rating as the company’s wireless revenue tends to be volatile, as the company continues to gain analog market share and as valuation remains attractive, currently trading at a market multiple of 2008 earnings...The recent 3G weakness is not tied to the 3G platform transition (from TI to STMicroelectronics) at Ericsson Mobile Platform. We believe the 3G weakness affects both OMAP and modem revenue, but is not indicative of share loss at Nokia...Our new 1Q08 revenue and EPS estimates are $3.28bn/$0.43 (vs. prior of $3.40bn/$0.46), our new 2008...
TI reduced its Q1 revenue guidance to $3.28 billion, down
8% sequentially and below the prior midpoint of $3.42 billion, due to reduced wireless demand forecasts for March from a large wireless customer, which we believe to be Nokia. TI stated that the cuts involve 3G components exclusively, while low-end handset component demand from customers is in line with prior expectations...As in our preview, analog revenue is tracking stronger than digital wireless sales...It is comforting to see management lower the bar, but we remain neutral due to (1) wireless share loss at top customers Nokia an...
The market is getting a bounce in early trading after some positive earnings reports.
Oracle (ORCL) beat consensus estimates and also raised guidance. It stock gapped higher on the open, and is helping the tech sector.
Nike (NKE) also beat estimates, and raised guidance for future orders. That stock is higher also, but the overall retail index is lower by a bit.
And Texas Instruments (TXN) said it will buyback an additional $5b in stock, and raised its dividend 25%. That stock also gapped higher this morning, and is helping lift the semi index.
You can bank on it: What, another sale? No, silly, Jos. A. Bank (josb) is always running sales. What you can bank on, it increasingly appears, is a quarter that gets a rise out of this person or that. This time, the second consecutive quarter, Bank kept its first quarter earnings call Monday very short and allowed no questions from fans or foes alike. Adding to the intrigue: CEO Robert Wildrick was nowhere to be found. While his name was mentioned as being in attendance, he didn't speak. When I called his office later, a secretary said he was out of town; a call to CFO
The stock has printed 9 consecutive negative sessions and is about to test the closure of the up gap. The trend is changed to negative in the short term.
Can we really believe Texas Instruments (txn) when it says the worst is over?
Think about it, for second: Inventory days are at a five year high as Texas Instruments and other chip-makers think that as in 2004, the inventory shortage will follow a surge in demand. "Key difference," says one skeptic, "is that in 2004 end markets were on fire and the GDP was growing 3% to 3.5%; this time around end markets are very weak and GDP is 1%. So they're all building inventory instead of cutting back, which boosts margins artificially."
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About Texas Instruments Inc
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"Wall Street has recently been very negative about 
