Technology

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target price to $157 from $185, on lower revised P/E of 20x our ’25 EPS view, which we start at $7.83, near peers but below its five-year historical forward average of 23.2x. We reduce our ’23 EPS estimate to $7.04 from $7.53 and ’24 to $7.05 from $8.01. TXN posts Q3 EPS of $1.85 vs. $2.56, beating the $1.84 consensus. Sales fell 14% (flat sequentially) as softness broadened across industrial customers while automotive was resilient. We are wary of elevated inventories (DIOs fell by 2 days to 205 seq.) as well as aggressive capex spend ($5B annual spend through ’27), which is hurting near-term profitability and FCF (9% FCF yield LTM vs. 29% a year ago). We note TXN will start seeing gov’t

Texas Instruments Sees 4Q EPS $1.35-EPS $1.57。

TI reports third quarter 2023 financial results and shareholder returns Conference call on TI website at 3:30 p.m. Central time today PR Newswire DALLAS, Oct. 24, 2023 DALLAS, Oct. 24, 2023  — Texas Instruments Incorporated (TI) (Nasdaq: TXN) today reported third quarter revenue of $4.53 billion, net income of $1.71 billion and earnings per share of $1.85. Earnings per share included a 5-cent benefit for items that were not in the company’s original guidance. Regarding the company’s performance and returns to shareholders, Haviv Ilan, TI’s president and CEO, made the following comments: — “Revenue was flat sequentially and decreased 14% from the same quarter a year ago. During the quarter, automotive growth continued and industrial weakness broadened. — “Our cash flow from operations of $6.5 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300-mm