Why Texas Instruments Stock Is Trading Higher Today

Texas Instruments Inc (NASDAQ: TXN) is trading higher Wednesday morning after the company announced better-than-expected fourth-quarter financial results and issued guidance above estimates.

Texas Instruments reported quarterly adjusted earnings of $2.27 per share, which beat the $1.94 estimate. The company reported quarterly revenue of $4.83 billion, which beat the estimate of $4.43 billion and represented a 19% increase year-over-year.

Texas Instruments said it expects first-quarter earnings to be in a range of $2.01 to $2.29 per share versus the estimate of $1.90 per share. The company expects revenue to be in a range of $4.5 billion to $4.9 billion versus the estimate of $4.36 billion.

  • Deutsche Bank analyst Ross Seymore maintained Texas Instruments with a Hold rating and raised the price target from $170 to $180.
  • Mizuho analyst Vijay Rakesh maintained Texas Instruments with a Neutral rating and raised the price target from $185 to $190.

See Also: Recap: Texas Instruments Q4 Earnings

TXN Price Action: Texas Instruments has traded as low as $161.67 and as high as $202.26 over a 52-week period.

The stock was up 4.9% at $182.49 at time of publication.

Photo: courtesy of Texas Instruments.

Latest Ratings for TXN

Date Firm Action From To
Jan 2022 Mizuho Maintains Neutral
Jan 2022 Deutsche Bank Maintains Hold
Jan 2022 Deutsche Bank Maintains Hold

View More Analyst Ratings for TXN

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source link

Leave a Reply