TI's Gross Margin Expansion Continues in Q4; Raising FVE to $68 but Shares Still Appear Overvalued
Texas Instruments reported strong fourth-quarter results and provided investors with a first quarter outlook that were relatively ahead of our expectations. The guidance also continues to point toward continued healthy broad-based chip demand. We will raise our fair value estimate for TI to $68 per share from $62 due to the time value of money as we roll our valuation model, but would still prefer to wait for a larger margin of safety before investing in this high-quality, wide-moat name.TI's r...
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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