Microchip maker Texas Instruments Incorporated ( TXN ) on Wednesday raised its fourth quarter profit and sales outlook.
The Dallas-based company said it now expects fourth quarter profit of 61 to 65 cents per share, on sales ranging from $3.43 to $3.57 billion. That compares with a prior outlook of 59 to 67 cents per share, on $3.36 to $3.64 billion in sales.
On average, Wall Street analysts expect a fourth quarter profit of 57 cents per share, on revenue of $3.50 billion.
Texas Instruments shares fell 21 cents, or -0.6%, in premarket trading Wednesday.
The Bottom Line
Shares of Texas Instruments ( TXN ) have a 1.56% dividend yield, based on last night's closing stock price of $33.41. The stock has technical support in the $28-$29 price area. If the shares can continue to track higher, we see overhead resistance around the $35-$37 price levels.
Texas Instruments Incorporated ( TXN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Created by Dividend.com