Citadel Reports on Texas Instruments

Citadel commented on Texas Instruments TXN in a report released yesterday. In the report, Citadel was negative in its assessment of the company. Citadel writes, "After the close, TI updated its 2Q11 outlook, lowering both the midpoint and low end of the prior range. Revenue guidance now stands at $3.36-3.50B, down from $3.41 - 3.69B prior. The reduction in EPS outlook was similar, with updated expectations calling for $0.51-0.55 vs. $0.52-0.60. The new midpoint of revenue guidance represents a sequential increase of 1%, which is well below the historical seasonal increase of 10% and 4% points below the prior midpoint." Citadel currently has a Reduce rating on Texas Instruments and a price target of $29. Shares of Texas Instruments closed at $32.67 on Wednesday.