Upgrade Alert for Texas Instruments (TXN)
Texas Instruments (NYSE:TXN) was upgraded from Underperform to Neutral at Exane BNP Paribas today. The stock closed yesterday at $69.61 on volume of 4.4 million shares, below average daily volume of 4.8 million.
Texas Instruments Incorporated is a global semiconductor company that designs and supplies analog technologies, digital signal processing (DSP) and microcontroller (MCU) semiconductors. The Company also operates materials and controls, and educational and productivity solutions businesses. Texas Instruments has manufacturing or sales operations in countries around the world.
Over the past year, Texas Instruments has traded in a range of $43.49 to $72.58 and closed yesterday at $69.61, 60% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.
Texas Instruments (NYSE:TXN) is currently priced 16.2% above its average consensus analyst price target of $58.32. The stock should discover initial support at its 50-day moving average (MA) of $56.98 and subsequent support at its 200-day MA of $53.45.
SmarTrend recommended that subscribers consider buying shares of Texas Instruments on February 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.79. Since that recommendation, shares of Texas Instruments have risen 30.5%. We continue to monitor TXN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Texas Instruments