Texas Instruments Inc (NASDAQ:TXN) reported upbeat second-quarter results after the market close on Wednesday.
Texas Instruments reported second-quarter revenue of $5.46 billion, beating analyst estimates of $5.25 billion. The semiconductor company posted second-quarter earnings of $2.14 per share, beating analyst estimates of $1.92 per share, according to Benzinga Pro.
"Our cash flow from operations of $8.7 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production," said Haviv Ilan, chairman, president and CEO of Texas Instruments.
Texas Instruments expects third-quarter revenue to be in the range of $5.65 billion to $6.15 billion versus estimates of $5.61 billion. The company anticipates third-quarter earnings of $2.23 to $2.57 per share versus estimates of $2.15 per share.
Texas Instruments shares fell 5.2% to $278.99 in pre-market trading.
These analysts made changes to their price targets on Texas Instruments following earnings announcement.
- Keybanc analyst John Vinh maintained the stock with an Overweight rating and raised the price target from $390 to $400.
- Evercore ISI Group analyst Mark Lipacis maintained the stock with an Outperform rating and raised the price target from $316 to $330.
Considering buying TXN stock? Here’s what analysts think:
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