TI Still Going Strong on the Industrial and Automotive Front; Raising FVE to $86 from $78
Texas Instruments' third-quarter results exhibited another strong quarter of revenue growth, while the firm's fourth-quarter forecast was also modestly ahead of our prior expectations. Broad-based analog and embedded chip demand remains robust, thanks to the firm's exposure to industrial and automotive end markets, where the secular trend of increased electronics and semiconductors per devices is still going strong. We will raise our fair value estimate for wide-moat TI to $86 from $78, as we ar...Texas Instruments designs and makes semiconductors that it sells to electronics designers and manufacturers. The company has two reportable segments: Analog and Embedded Processing. The company's analog semiconductors change signals, such as sound, temperature, pressure or images to a stream of digital data. The company's analog segment primary product lines includes: power, signal chain, and high volume. The company's embedded processors are designed to handle specific tasks and can be optimized for various combinations of performance, power and cost, depending on the application. The company's embedded processing segment primary product lines includes: connected microcontrollers and processors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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