Texas Instruments Inc (NASDAQ:TXN) is trading higher Wednesday morning after the company announced better-than-expected fourth-quarter financial results and issued guidance above estimates.
Texas Instruments reported quarterly adjusted earnings of $2.27 per share, which beat the $1.94 estimate. The company reported quarterly revenue of $4.83 billion, which beat the estimate of $4.43 billion and represented a 19% increase year-over-year.
Texas Instruments said it expects first-quarter earnings to be in a range of $2.01 to $2.29 per share versus the estimate of $1.90 per share. The company expects revenue to be in a range of $4.5 billion to $4.9 billion versus the estimate of $4.36 billion.
- Deutsche Bank analyst Ross Seymore maintained Texas Instruments with a Hold rating and raised the price target from $170 to $180.
- Mizuho analyst Vijay Rakesh maintained Texas Instruments with a Neutral rating and raised the price target from $185 to $190.
See Also: Recap: Texas Instruments Q4 Earnings
TXN Price Action: Texas Instruments has traded as low as $161.67 and as high as $202.26 over a 52-week period.
The stock was up 4.9% at $182.49 at time of publication.
Photo: courtesy of Texas Instruments.
