J.P. Morgan Reiterates Overweight Rating On Texas Instruments

According to J.P. Morgan, Texas Instruments TXN Overweight rating is reiterated. J.P. Morgan said that TI reported 2Q11 results above consensus due to strength from embedded processing products (17% of 2Q11 sales) but lowered guidance for 3Q11 due to weaker than expected demand. “We are reiterating our Overweight rating on TXN due to upside to consensus estimates.” Texas Instruments closed yesterday at $31.47.