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November 14, 2012
18:46 EDTTXNTexas Instruments to reduce costs in wireless business
Texas Instruments announced it will reduce costs and focus investments in its wireless business on embedded markets with greater potential for sustainable growth. Cost reductions include the elimination of about 1,700 jobs worldwide. TI previously outlined intentions to focus its OMAP processors and wireless connectivity solutions on a broader set of embedded applications with long life cycles, instead of its historical focus on the mobile market where large customers are increasingly developing their own custom chips. These changes require fewer resources and less investment. As a result of these actions, the company expects annualized savings of about $450M by the end of 2013. Total charges will be about $325M, most of which will be accounted for in the current quarter. TI's Q4 outlook, published on October 22, did not comprehend these restructuring charges.
News For TXN From The Last 14 Days
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December 18, 2014
10:01 EDTTXNOn The Fly: Analyst Initiation Summary
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06:24 EDTTXNTexas Instruments initiated with a Buy at Citigroup
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December 12, 2014
07:17 EDTTXNSemiconductor indications have improved, says Bernstein
Bernstein believes that indicators for the semiconductor sector have improved since September, as expectations and valuations have dropped, while revision trends have been favorable,according to the firm. The firm thinks the outlook for the space is "reasonably positive." In conjunction with this note, Bernstein upgraded its rating on Freescale (FSL) to Outperform from Market Perform and hiked its target on the stock to $31 from $20. The firm increased its price target on Texas Instruments (TXN) to $63 from $54 and on Analog Devices to $55 from $50. It keeps an Outperform rating on Texas Instruments and a Market Perform rating on Analog Devices.

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