Texas Instruments Reports – US-FOREX.US
Texas Instruments, one of the world’s largest semiconductor companies, will be releasing its second quarter balance sheet, and Wall Street is expecting 18 cents per share.
Texas Instruments
has seen its stock rise 48.3% since the beginning of the year. Analog Devices
has risen 34.7% and National Semiconductors
has gained 36.2%. The Technology SPDR
exchange-traded fund has increased by 23.1%.Last month, Texas Instruments raised and narrowed its second quarter sales guidance to between 2.3 billion and 2.5 billion, leading Adam Benjamin, an analyst at Jefferies, to calendar-year 2010 earnings estimate to 1.09 per share, from 92 cents. The company indicated the hike came as revenue from all its major segments rose.Despite the upbeat commentary from the company, Adam Benjamin, an analyst at Jefferies, recommended investors sell their shares, arguing the company faces the de-emphasis of wireless as it is cash cowed, high-performance analog growth as incremental share gains are limited, and its high-volume analog business remains challenged. Bank of America raised its price target to 27, from 18. “Our more favorable view is based on an expectation of margin expansion well above that currently being forecasted by the Street,” said Sumit Dhanda. “While there remains a significant focus on the impact to revenue from a declining baseband business over the next tree years, we think the perception is worse than the reality.”