Texas Instruments Incorporated (NYSE: TXN) raised guidance at its mid-quarter update. The problem is that looks like it has already been baked into the cake after seeing rivals make their guidance updates and with how much higher these chip stocks are trading from their lows.
Earnings are forecast to be $0.47 to $0.51 EPS, above the earlier range of $0.42 to $0.50 EPS. Revenue is now expected between $2.90 billion and $3.02 billion, compared with the prior range of $2.78 billion to $3.02 billion. Thomson Reuters has estimates at $0.47 EPS and $2.93 billion in revenues. The quarter a year ago was $0.12 EPS $2.491 billion in revenues.
Shares are down 2.2% at $25.75 in the after-hours session after closing down 1.1% at $26.33 today. The 52-week range is $13.70 to $27.00.
JON C. OGG
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