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Chipmaker Texas Devices (TXN) late Tuesday beat analyst estimates for the third quarter however guided beneath views for the present interval. TXN inventory fell in prolonged buying and selling.
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The Dallas-based firm earned $2.47 a share on gross sales of $5.24 billion within the September quarter. Analysts polled by FactSet anticipated Texas Devices earnings of $2.39 a share on gross sales of $5.14 billion. On a year-over-year foundation, TI earnings rose 19% whereas gross sales elevated 13%.
For the present quarter, Texas Devices forecast earnings of $1.97 a share on gross sales of $4.6 billion. That is based mostly on the midpoint of its steerage. Wall Avenue had predicted earnings of $2.23 a share on gross sales of $4.94 billion within the fourth quarter. Within the year-earlier interval, TI earned $2.27 a share on gross sales of $4.83 billion.
“In the course of the quarter we skilled anticipated weak point in private electronics and increasing weak point throughout industrial,” Chief Government Wealthy Templeton stated in a information launch.
In after-hours buying and selling on the inventory market as we speak, TXN inventory sank 5.3% to 153.50. In the course of the common session Tuesday, TXN inventory climbed 0.3% to shut at 162.16.
Texas Devices inventory ranks fifth out of 33 shares in IBD’s semiconductor manufacturing business group, in response to IBD Inventory Checkup. TXN inventory has an IBD Composite Ranking of 83 out of 99.
IBD’s Composite Ranking is a mix of key elementary and technical metrics to assist traders gauge a inventory’s strengths. The most effective development shares have a Composite Ranking of 90 or higher.
Texas Devices makes analog and embedded processing chips for markets corresponding to industrial, automotive, private electronics, communications gear and enterprise methods.
Observe Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on client know-how, software program and semiconductor shares.
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