On July 16, Texas Instruments fell 3.06% in regular trading, trading at $295.91/share, with turnover of $732 million. The decline came amid a broad selloff across the semiconductor sector that weighed heavily on individual names.
The semiconductor sector experienced widespread selling pressure, with Micron Technology down 9.88%, Intel down 7.67%, AMD down 6.44%, NVIDIA down 2.39%, and TSMC down 2.02%. Texas Instruments was unable to decouple from the sector-wide weakness despite a wave of bullish analyst upgrades in recent sessions, including KeyBanc raising its target to $390, TD Cowen to $360, and Citi to $345.
Adding to short-term uncertainty, the Competition and Consumer Commission of Singapore is currently soliciting public input on Texas Instruments' proposed acquisition of Silicon Laboratories, with the deadline set for July 22 — the same date the company is scheduled to report Q2 earnings after market close, with consensus EPS expected at $1.91.
(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.)
Comments