Texas Instruments downgraded to Underperform from Neutral at Mizuho

Mizuho downgraded Texas Instruments (TXN) to Underperform from Neutral with a price target of $150, down from $200. The firm cites a lack of near-term catalysts, the stock’s “premium valuation,” slowing auto sales, China competition and tariff headwinds for the downgrade. Texas Instruments is less exposed to “growth” segments like artificial intelligence data center and silicon carbide, the analyst tells investors in a research note. The firm cut its estimates for Texas Instruments below consensus.