Benzinga - by Lisa Levin, Benzinga Editor.
Texas Instruments Incorporated (NASDAQ: 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.
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Latest Ratings for TXN
| Feb 2022 | Raymond James | Downgrades | Outperform | Market Perform |
| Feb 2022 | Edward Jones | Downgrades | Buy | Hold |
| Feb 2022 | Barclays | Maintains | Underweight |
View the Latest Analyst Ratings
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