Texas Instruments Analysts Slash Their Forecasts After Q3 Results

Texas Instruments Incorporated TXN reported upbeat earnings for the third quarter, while sales missed estimates.

Texas Instruments reported quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $1.81. The company reported quarterly sales of $4.53 billion which missed the analyst consensus estimate of $4.57 billion.

The company said it sees fourth-quarter revenue in a range between $3.93 billion and $4.27 billion, versus the $4.49 billion estimate. Earnings per share is estimated to be between $1.35 and $1.57.

Texas Instruments shares fell 3.9% to trade at $141.25 on Wednesday.

These analysts made changes to their price targets on Texas Instruments following earnings announcement.

• Keybanc cut the price target on Texas Instruments from $200 to $180. Keybanc analyst John Vinh maintained an Overweight rating.
• Rosenblatt slashed the price target on Texas Instruments from $230 to $190. Rosenblatt analyst Hans Mosesmann maintained a Buy rating on the stock.
• Morgan Stanley lowered the price target on Texas Instruments from $156 to $138. Morgan Stanley analyst Joseph Moore maintained an Underweight rating.
• Goldman Sachs cut the price target on Texas Instruments from $157 to $137. Goldman Sachs analyst Toshiya Hari maintained a Sell rating.
• Barclays lowered the price target on Texas Instruments from $175 to $165. Barclays analyst Blayne Curtis maintained an Equal-Weight rating.
• Susquehanna cut the price target on Texas Instruments from $185 to $180. Susquehanna analyst Christopher Rolland maintained a Positive rating.
• Mizuho slashed the price target on Texas Instruments from $181 to $160. Mizuho analyst Vijay Rakesh maintained a Neutral rating.
• Truist Securities cut the price target on Texas Instruments from $165 to $150. Truist Securities analyst William Stein maintained a Hold rating.

Also Check This Out: Alphabet To Rally Over 33%? Here Are 10 Top Analyst Forecasts For Wednesday