Microchip maker Texas Instruments Inc. (
) 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
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
The Bottom Line
Shares of Texas Instruments (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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, as well as a detailed explanation of
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