MARKET TALK: Texas Instruments Result Not A Worry For UK Semis

20th Jul 2010 08:12

0712 GMT [Dow Jones] Despite the disappointing results from Texas Instruments (TXN) late Monday, there is no material impact to the UK semis, says Execution Noble. Says it was largely a well-documented "customer specific issue" with Nokia (NOK) that impacted Texas' results. Notes CSR (CSR.LN) is regaining its market share at Nokia, but also its latest Bluetooth chip is primarily targeted at the low/mid-tier feature phone market and shipping to multiple handset vendors. Has CSR at buy, and is Execution Noble's top-pick in the space. On the other hand, says the sharp year-to-date rise in other UK semi stocks, along with hefty valuations, leave no room for disappointment as the 2Q '10 reporting season gets underway. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 20, 2010 03:12 ET (07:12 GMT)