Chipmaker Texas Instruments (TXN) late Tuesday beat Wall Street’s targets for the first quarter and guided above views for sales and in line for earnings for the second quarter. TXN stock rose in extended trading.
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The Dallas-based company earned $1.20 a share on sales of $3.66 billion in the March quarter. Analysts polled by FactSet had expected TI earnings of $1.07 a share on sales of $3.61 billion. In the year-earlier period, Texas Instruments earned $1.85 a share on sales of $4.38 billion.
In after-hours trading on the stock market today, TXN stock advanced more than 5% to 174.50. During the regular session Tuesday, TXN stock rose 1.2% to close at 165.42.
Earnings report details to follow.
TXN stock ranks No. 12 out of 33 stocks in IBD’s semiconductor manufacturing industry group, according to IBD Stock Checkup. It has a subpar IBD Composite Rating of 40 out of 99.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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