Texas Instruments not commenting on May trends » 11:1205/2805/28/20
Texas Instruments says it…
Texas Instruments says it will "stick with what we talked about it April," but will give an update of how things have shaped through the quarter on the Q2 earnings call. Comments taken from the Bernstein Strategic Decisions Conference.
Morgan Stanley upgrades Sensata to Equal Weight with June quarter seen as bottom » 08:0905/2705/27/20
ST, TXN, ON
As previously reported,…
As previously reported, Morgan Stanley analyst Craig Hettenbach upgraded Sensata (ST) to Equal Weight from Underweight with a price target of $35, up from $33. While the path to a recovery is uncertain, the June quarter "is likely as bad as it gets for Sensata," contends Hettenbach. Sensata estimates have been reset harder than peers and the stock has meaningfully underperformed, leaving him seeing greater risks to stocks that "trade at unwarranted premium valuation multiples," such as Texas Instruments (TXN), or where "competition is more intense," such as ON Semiconductor (ON), Hettenbach tells investors.
|Over a week ago|
Texas Instruments put volume heavy and directionally bearish » 10:1505/0405/04/20
Bearish flow noted in…
Bearish flow noted in Texas Instruments with 2,030 puts trading, or 2x expected. Most active are Jul-20 110 puts and May-20 120 calls, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.08, while ATM IV is up over 2 points on the day. Earnings are expected on July 21st.
|Over a month ago|
Texas Instruments put volume heavy and directionally bearish » 13:3505/0105/01/20
Bearish flow noted in…
Bearish flow noted in Texas Instruments with 3,860 puts trading, or 1.2x expected. Most active are 5/1 weekly 117 puts and 5/1 weekly 113 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.90, while ATM IV is up nearly 6 points on the day. Earnings are expected on July 21st.
Avnet initiated with a Hold at Loop Capital » 08:0004/2404/24/20
As previously reported,…
As previously reported, Loop Capital analyst Shawn Harrison initiated coverage of Avnet (AVT) with a Hold rating and $30 price target. The analyst notes that the valuation relative to the company's anticipated free cash flow generation during a downturn is "attractive", but he is concerned about its ability to substantially cut costs and the possibility of a delayed timeline in replacing some $1.6B in lost sales due to its ended distribution relationship with Texas Instruments (TXN).
Fly Intel: Top five analyst initiations » 10:0804/2204/22/20
HPE, CARR, BILL, TXN, APLT
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. HP Enterprise (HPE) initiated with a Sector Perform at RBC Capital. 2. Carrier Global (CARR) initiated with an Outperform at Cowen. 3. Bill.com (BILL) initiated with an Equal Weight at Wells Fargo. 4. Texas Instruments (TXN) reinstated with a Neutral at Longbow. 5. Applied Therapeutics (APLT) initiated with a Buy at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Texas Instruments price target lowered to $94 from $101 at Morgan Stanley » 08:2904/2204/22/20
Morgan Stanley analyst…
Morgan Stanley analyst Joseph Moore lowered the firm's price target on Texas Instruments to $94 from $101 and keeps an Underweight rating on the shares. He views the guidance for Q2 sales declining 21% year-over-year as "the start of the correction as opposed to as bad as it gets," Moore tells investors. He expects "intense pressure" on the autos, industrial, and consumer businesses, which make up 80% of TI's revenue, Moore added.
Texas Instruments price target lowered to $125 from $135 at RBC Capital » 08:1004/2204/22/20
RBC Capital analyst Mitch…
RBC Capital analyst Mitch Steves lowered the firm's price target on Texas Instruments to $125 from $135 and keeps a Sector Perform rating on the shares. The analyst notes that the company's Q1 results were ahead of expectations, but Q2 guidance was set weaker due to demand pressure related to COVID-19 outbreak. Steves further states that Texas Instruments expects the PC business uplift to be short-lived, as the company continues to focus on its Industrial and Auto segments.
Texas Instruments price target lowered to $120 from $140 at Oppenheimer » 07:5504/2204/22/20
Oppenheimer analyst Rick…
Oppenheimer analyst Rick Schafer lowered the firm's price target on Texas Instruments to $120 from $140 and keeps an Outperform rating on the shares. The analyst notes that the company reported mixed earnings. He expects to see recovery in 2021 and free cash flow to remain strong through the downturn.
Texas Instruments downgraded to Hold from Buy at Loop Capital » 07:1604/2204/22/20
Loop Capital analyst…
Loop Capital analyst Shawn Harrison assumed coverage of Texas Instruments with a lower rating of Hold from Buy and a reduced price target of $108, down from $145. The analyst remains confident that the company will continue to generate cash, deploy capital - even during the downturn - toward opportunities offering the best returns, and execute at a high level. However, Harrison is "struggling" to see upside catalysts on Texas Instruments stock given his anticipated "modest" improvement in the second half of the year and the current valuation on the shares at 19-times prior peak earnings of $5.63, which is in line with its 5-year average forward earnings of 19.5-times.