Texas instruments shares are trading lower after the company reported worse-than-expected Q4 revenue results and issued Q1 guidance. Also, multiple firms lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Texas Instruments (TXN) shares dropped following a report of disappointing Q4 revenue and weaker Q1 guidance. Additionally, several firms have reduced their price targets for TXN.
January 24, 2024 | 7:38 pm
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Texas Instruments reported lower Q4 revenue than expected and provided a weaker Q1 outlook, leading to a decline in share price. Price targets have been lowered by multiple firms.
The negative earnings report and subsequent lowering of price targets by multiple firms are strong indicators of bearish sentiment in the short term. This typically results in a decrease in stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100