On July 13, Texas Instruments declined 3.19% in regular trading, trading at $300.95/share, with turnover of $214 million. The stock fell alongside a broad semiconductor sector selloff despite receiving a bullish analyst upgrade on the same day.
TD Cowen raised its price target on Texas Instruments from $300 to $360 while maintaining a Buy rating. This marks the latest in a series of upgrades from major institutions, with Citi ($345), UBS ($350), STIFEL ($360), and Cantor Fitzgerald ($340) all having raised targets in recent weeks. Analysts have cited the company's opportunity to supply power chips to NVIDIA in the second half of the year as an upside catalyst. However, sector-wide selling pressure overwhelmed individual positive catalysts, with the broader semiconductor space declining sharply.
Within the Semiconductors sector, Micron Technology fell 6.4%, Intel fell 4.67%, AMD fell 4.64%, NVIDIA fell 1.72%, and Taiwan Semiconductor Manufacturing fell 1.55%. Texas Instruments is scheduled to report Q2 earnings on July 22 after market close, with consensus EPS expected at $1.90.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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