Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Texas Instruments Inc (NASDAQ:TXN) shares are trading lower Wednesday after the company reported third-quarter financial results and issued guidance below analyst estimates.
Texas Instruments said third-quarter revenue increased 13% year-over-year to $5.24 billion, which beat average analyst estimates of $5.14 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.47 per share, which beat average estimates of $2.39 per share.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
"During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said Rich Templeton, chairman, president, and CEO of Texas Instruments.
"Our cash flow from operations of $9.0 billion for the trailing 12 months again underscored the strength of our business model. Free cash flow for the same period was $5.9 billion and 29% of revenue. This reflects the quality of our product portfolio, as well as the efficiency of our manufacturing strategy."
Texas Instruments expects fourth-quarter revenue to be between $4.4 billion and $4.8 billion versus the estimate of $4.93 billion.
Keybanc analyst John Vinh maintained Texas Instruments with an Overweight rating and lowered the price target from $220 to $210 following the company's quarterly results. Mizuho also lowered its price target from $168 to $159.
See Also: Visa To Rally Over 26%? Here Are 5 Other Price Target Changes For Wednesday
TXN Price Action: Texas Instruments has a 52-week high of $192.10 and a 52-week low of $144.45.
The stock was down 3.87% at $155.89 at time of publication.
Photo: Lorenzo Cafaro from Pixabay.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.