This raised price target came after the company’s 2Q earnings report that showed the company beat expectations. Auto, industrial and communications segments pushed up TXN’s earnings. These increases offset a decline in personal electronics. After the earnings the company raised its guidance for revenue and EPS to $3.48 billion and $0.86 for 3Q16. Chin expects this success to continue as the company “ continues to maintain a strong design win position in the auto market with strength in infotainment and power management, with higher content a key growth driver.” The analyst also thinks that TXN’s broad-based industrial segment is performing well.
According to TipRanks, Chin has a success rate of 61% with an average return of 4% per recommendation.