Texas Instruments Receives Analyst Upside, VMware Valuation Solid

Texas Instruments Inc. (NYSE:TXN): Susquehanna raised its price target on Texas Instruments following Q4 results. The firm believes Q1 will represent the bottom of the current cycle and the company should receive a tailwind from customers and distributors inventory replenishment. Shares are Positive rated. After Texas Instruments reported stronger than expected Q4 revenues, Gabelli believes that multiple factors will cause the company’s margins to accelerate in 2012. The firm maintains a Buy rating on the stock.

VMware, Inc. (NYSE:VMW): Cowen said VMware valuation for a dominant company is very compelling. The firm cited solid Q4 earnings, higher than expected bookings and margins, and management guidance for maintaining its Outperform rating.

Lam Research Corporation (NASDAQ:LRCX): Citigroup called Lam Research (NASDAQ:LRCX) its top pick in the Semiconductor Capital Equipment space after channel checks indicated the company’s share gains at Intel (NASDAQ:INTC) are starting now, which is sooner than expected. Citi raised its price target for Lam Research shares to $64 from $58 and keeps a Buy rating on the stock. The firm also upgraded Novellus (NASDAQ:NVLS) and KLA-Tencor (NASDAQ:KLAC) to Buy this morning, and downgraded FormFactor (NASDAQ:FORM) to Neutral.

CIBER, Inc. (NYSE:CBR): BGB Securities views the sale of CIBER’s Federal practice as a positive since the services were low margin. The firm reiterates a Buy rating on the stock with a $5 price target.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com