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

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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 The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: TXN

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