Analysts Lay Into Texas Instruments

Updated from June 10

Shares of Texas Instruments(TXN Quote) continued to move lower in Wednesday's premarket session as analysts weighed in on the chipmaker's preannouncement.

In early Instinet premarket trading, the shares last crossed at $19.18, down $1.21, or 6%, from Tuesday's 4 p.m. EDT close. The decline has steadily widened since the company warned after the bell that its June-quarter revenue and earnings will fall below expectations, hurt by weak chip sales into the wireless market.

Among the many analyst actions released Wednesday, Deutsche Bank recommended selling the shares, saying they've lost momentum. "We believe that this profit warning has weakened the bull case on Texas Instruments -- strength in wireless drives significant earnings leverage," Deutsche wrote. The brokerage noted the shares trade above its old price target of $18 and lowered the target to $16. ...