Texas Instruments Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Texas Instruments Incorporated (NASDAQ:TXN) reported Q3 earnings of $1.85 per share, beating the consensus estimate of $1.81. However, quarterly sales of $4.53 billion missed the estimate of $4.57 billion. The company's Q4 revenue forecast also fell short of estimates. Following the earnings announcement, several analysts, including those from Keybanc, Rosenblatt, Morgan Stanley, Goldman Sachs, Barclays, Susquehanna, Mizuho, and Truist Securities, lowered their price targets on Texas Instruments.
October 25, 2023 | 6:48 pm
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Texas Instruments reported Q3 earnings that beat estimates but missed on sales. The company's Q4 revenue forecast also fell short of estimates. This led to several analysts lowering their price targets on the company.
Texas Instruments' Q3 earnings beat estimates, but the company missed on sales and its Q4 revenue forecast fell short of estimates. This mixed performance, along with the lowered price targets from several analysts, could negatively impact the company's stock price in the short term.
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