What's Going On With Texas Instruments Stock Thursday?

Texas Instruments Incorporated TXN shares are moving higher on Thursday after the company reported first-quarter earnings on Wednesday after the market closed.

The Details: Texas Instruments reported earnings per share of $1.28, beating analysts’ estimate of $1.07. In addition, the company reported sales of $4.07 billion, beating analysts’ estimate of $3.91 billion and representing an 11% year-over-year growth.

Texas Instruments said it invested $4.7 billion in capital expenditures and returned $6.4 billion to shareholders. Over the trailing 12 months, it generated $6.2 billion in operating cash flow.

The company also issued guidance for the second-quarter. It sees earnings per share from $1.21 to $1.47, versus analysts’ estimate of $1.23. Furthermore, it sees sales from $4.17 billion to $4.53 billion, versus analysts’ estimate of $4.13 billion.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

• Wells Fargo analyst Joe Quatrochi maintained an Equal-Weight rating on Texas Instruments and lowered the price target from $200 to $175.
• Keybanc analyst Brett Fishbin maintained an Overweight rating on Texas Instruments and lowered the price target from $250 to $215.

Related Link: Intel Slashes Staff Ahead Of Q1 Earnings, ETFs Brace For Impact

TXN Price Action: At the time of writing, Texas Instruments stock is trading 6.10% higher at $161.17, according to data from Benzinga Pro.

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