Connect with us

CWEB Business News

Texas Instruments Shares Up 6 percent Following Q2 Beat

Texas Instruments Incorporated (NASDAQ:TXN) shares rose more than 6% on Wednesday following the company’s reported Q2 results, with EPS of $2.45 coming in above the Street estimate of $2.13. Revenue was $5.21 billion, compared to the Street estimate of $4.65 billion.
Similar to when the company issued highly conservative COVID lockdown-impacted guidance in Q2/20, its Q2/22 guidance also proved to be conservative, with the company significantly exceeding its initial revenue outlook as China reopened faster than feared.
The company expects Q3/22 EPS in the range of $2.23-$2.51, compared to the consensus of $2.26, and revenue in the range of $4.9-5.3 billion, compared to the consensus of $4.97 billion.
The analysts at Deutsche Bank continue to view the company as one of the highest quality companies in the semiconductor sector, but believe the combination of accelerating macro/sector-wide demand headwinds and company-specific supply additions will keep the shares relatively range bound. The analysts increased their price target on the company’s shares to $165 from $160, while reiterating their hold rating.

Follow us on Google news for more updates and News

Full Disclaimer

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.