Texas Instruments Boosts Low-End of Q3 Profit Outlook; Revenue Still Could Miss (TXN)

By Dividend.com Staff,

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Microchip maker Texas Instruments Inc. ( TXN ) on Wednesday provided a mid-quarter guidance update that offered a more optimistic view of its current business results.

The Dallas-based company said it now expects third quarter earnings to range from 38 to 42 cents per share, on revenue of $3.27 billion to $3.41 billion. TXN had previously forecast third quarter profits of 34 to 42 cents on $3.21 billion to $3.47 billion in revenue.

On average, Wall Street analysts expect a profit of 38 cents on sales of $3.34 billion.

Texas Instruments shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Texas Instruments ( TXN ) have a 2.38% dividend yield, based on last night's closing stock price of $28.58. The stock has technical support in the $26-$27 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels.

Texas Instruments Inc. ( TXN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: TXN

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