Texas Instruments (TXN) NewsBite - TXN Downgraded On Fears Of Oversupply
Posted: Thursday, November 19, 2009 10:05 AM EDT
By: Market Intelligence Center Staff
Texas Instruments (NYSE: TXN) opened at $24.80. So far today, the stock has hit a low of $24.60 and a high of $24.81. TXN is now trading at $24.61, down $1.15 (-4.45%). Over the last 52 weeks the stock has ranged from a low of $13.38 to a high of $26.08. Shares of TXN are trading lower today after analysts at BofA/Merrill downgraded a number of semiconductor stocks, saying in a note to investors that inventory levels are close to eclipsing demand. The analysts added, "we think the longer this persists the greater the risk of a correction in the supply chain." TXN was reduced to Neutral from Buy. Technical indicators for the stock are bullish and S&P gives TXN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TXN the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Texas Instruments (TXN) Stock ReportSee what our analysts have uncovered about Texas Instruments (TXN).