Texas Instruments makes chips for a wide array of electronic devices, including the iPhone, iPad and other mobile electronics. Shares have gained 14.68% year-to-date.
J.P. Morgan believes the chipmaker offers more upside than Intel or even Advanced Micro Devices (AMD), as it has more leverage, which could lead to upside from the consensus estimates. J.P. Morgan rates Texas Instruments shares "overweight" with a $39 price target.Analysts polled by Thomson Reuters expect Texas Instruments to report $3.06 billion in revenue and 29 cents per share for the first-quarter. The company, however, recently cut first-quarter guidance, saying it still sees a reduction in demand for its wireless products. Texas Instruments' first-quarter outlook is now 15 cents to 19 cents per share on a revenue range of $2.99 billion to $3.11 billion. The Dallas-based firm had previously projected earnings of 16 cents to 24 cents per share on a revenue range of $3.02 billion to $3.28 billion. TheStreet Ratings rates Texas Instruments "buy" with a B+ grade and a price target of $38.61.