Texas Instruments Beats Q3 Expectations, But Analysts ‘Don’t Yet See The Lift-Off In Sales Growth’
Shares of Texas Instruments Inc (NASDAQ:TXN) spiked in early trading on Wednesday, after the company reported its third-quarter results.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Bank of America Securities analyst Vivek Arya reiterated a Neutral rating, while cutting the price target from $220 to $215.
- JPMorgan analyst Harlan Sur reaffirmed an Overweight rating and price target of $230.
- Benchmark analyst Cody Acree reiterated a Buy rating and price target of $230.
- Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating and price target of $250.
Check out other analyst stock ratings.
BofA Securities: “We don’t yet see the lift-off in TXN sales growth,” Arya said in a note. He added that rising depreciation creates a headwind for the company’s gross margins in 2025. That doesn’t appear to be “fully captured” in consensus estimates.
Texas Instruments provided “sluggish” guidance for the fourth quarter. However, the stock rose in after-hours trading on expectations of an end to inventory correction, the analyst stated. “On the positive side, TXN continues to build a comprehensive manufacturing footprint that could provide low-cost capacity in next upcycle,” he …
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