Texas Instruments downgraded to Underweight from Equal Weight at Barclays

Barclays analyst Tom O’Malley downgraded Texas Instruments (TXN) to Underweight from Equal Weight with a price target of $125, down from $180. The company’s China domestic supply and high auto exposure create a “perfect storm,” the analyst tells investors in a research note. The firm says tariffs could push Texas Instruments’ local Chinese customers to move to domestic analog producers over U.S. suppliers who will offer higher prices. It believes Texas Instruments is “getting hit from all angles.”