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Actionable news in TXN: Texas Instruments Incorporated,

Texas Instruments Still Has Room to Fly Higher

Texas Instruments (TXN) has rewarded investors with a solid rally this year and the chip supplier has even more upside largely due to its attractive end-markets and capital allocation strategies.

Texas Instruments shares could reach $100 over the next two years, wrote RBC Capital Markets analyst Amit Daryanani in a Sunday note. Daryanani also raised the price target to $80 from $75.

Shares closed down 0.4% Monday afternoon to $70.00, having risen 27% since January.

The Dallas-based semiconductor designer and manufacturer remains well-positioned to generate mid-to-high single digit growth thanks to its strong end markets, Daryanani noted, adding that the company's roll-out of DMOS6 and RFAB chip manufacturing facilities should also bode well in the near-term.

Long-term catalysts for TI include its diversified revenue stream and solid track record of capital allocation.

For instance, nearly 50% of the company's revenues come from non-tech verticals including industrial and automotive. Industrial end markets...