Monday, March 12, 2007
Texas Instruments (TXN) Mid Quarter Update
There's been a spring in the step lately of Texas Instruments (TXN). The stock is now challenging tough overhead resistance in the $33 area. Ahead of its mid quarter update this evening a numbers of analysts are saying nice things about the stock. Earlier this morning JP Morgan said TI's book to bill ratio is above 1 and shares could trade above $40 this year. Pacific Growth things TI could guide above the mid-point of previously state guidance, which is $3.145 bln. Bank of America sounds a note of caution saying TI will likely tighten guidance with a bias to the low end. Today at the money March 37-1/2 put volume is trading at a roughly 2 to 1 margin over the calls. I'm not playing this one this evening, but it is intriguing how TXN shares have had a tendency to fill gaps with one needing to be filled from earlier in the month.