Texas Instruments price target lowered to $175 from $196 at Truist

Truist lowered the firm’s price target on Texas Instruments (TXN) to $175 from $196 and keeps a Hold rating on the shares. The company’s Q3 results were mixed with fading gross margins, and its fundamental cycle is stabilizing rather than recovering because inventory levels have normalized and neither direct nor channel customers are restocking, the analyst tells investors in a research note.