Texas Instruments Inc. (NASDAQ:TXN), the largest analog chipmaker, narrowed its fourth-quarter forecast as it wrestles with uneven demand and changes in its business focus.
Net income in the three months ending Dec. 31 will be 44 and 48 cents a share, versus a prior forecast of 42 to 50 cents a share, the Dallas, Texas-based company said in a statement yesterday. Analysts polled by FactSet were anticipating earnings of 47 cents a share.
The semiconductor maker also said it projects revenue between $2.92 billion and $3.04 billion, versus its prior range of $2.86 billion to $3.10 billion. Analysts predicted $2.99 billion.
TI shares slid 8 cents to $43.50 in after-hours trading. Its stock gained 9 cents to close regular trading at $43.58 and is up 41 percent this year.
Texas Instruments has been among several U.S. chipmakers in recent months to give forecasts that disappointed investors expecting a stronger recovery.
The company, which has suffered weak demand due as the world economy remains soft, has moved away from chips for mobile devices and has instead increased its focus on embedded processors such as those used in cars and industrial equipment, as well as nondigital, or analog, chips.
The current consensus among analysts is to "hold" stock in Texas Instruments Inc.
Reported by Proactive Investors 2 days ago.
Net income in the three months ending Dec. 31 will be 44 and 48 cents a share, versus a prior forecast of 42 to 50 cents a share, the Dallas, Texas-based company said in a statement yesterday. Analysts polled by FactSet were anticipating earnings of 47 cents a share.
The semiconductor maker also said it projects revenue between $2.92 billion and $3.04 billion, versus its prior range of $2.86 billion to $3.10 billion. Analysts predicted $2.99 billion.
TI shares slid 8 cents to $43.50 in after-hours trading. Its stock gained 9 cents to close regular trading at $43.58 and is up 41 percent this year.
Texas Instruments has been among several U.S. chipmakers in recent months to give forecasts that disappointed investors expecting a stronger recovery.
The company, which has suffered weak demand due as the world economy remains soft, has moved away from chips for mobile devices and has instead increased its focus on embedded processors such as those used in cars and industrial equipment, as well as nondigital, or analog, chips.
The current consensus among analysts is to "hold" stock in Texas Instruments Inc.
Reported by Proactive Investors 2 days ago.