The following is a summary of the Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript: Financial Performance: Texas Instruments reported a Q4 revenue of $4.1 billion, marking a decrease of 10% sequentially and 13% from the same quarter a year ago. Gross profit was $2.4 billion, or 60% of revenue; the profit margin was down 650 basis points due to lower revenue and higher manufacturing costs. Operating profit amounted to $1.5 billion, or 38% of revenue, marking a 30% decline from the year-ago quarter. The company reported Q4 net income of $1.4 billion and earnings per share of $1.49. Expected revenue for Q1 2024 is between $3.45 billion and $3.75 billion and earnings per share between $0.96 and $1.16. Business Progress: Despite a decline in industrial and automotive revenues in Q4, these sectors combined made up 74% of TI’s revenue in 2023. The company has focused on opportunities in […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $172 from $157, on P/E of 24x our ’25 EPS view, near five-year historical forward average. We reduce our ’24 EPS estimate to $5.75 from $7.05 and ’25 to $7.15 from $7.83. TXN posts Q4 EPS of $1.46 vs. $2.13, missing the $1.49 consensus. Sales fell 13% (-10% seq.) while Q1 guide was disappointing (implies 12% seq. drop), both missing expectations, hurt by pronounced weakness from industrial customers and a sequential decline in automotive. Gross margin of 59.6% was narrower than our view, compressing vs. 66.1% a year ago and 62.1% in Q3, hurt by lower volume and utilization. Although we believe customers are rebalancing inventories within autos/industrials (cancellations remain elevated), visibility surrounding the trajectory of a recovery remains low. Still,

Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 19.25% Keybanc $180 → $200 Maintains Overweight 01/23/2024 13.29% Rosenblatt → $190 Reiterates Buy → Buy 01/23/2024 7.33% Cantor Fitzgerald → $180 Initiates Coverage On → Neutral 01/19/2024 16.27% UBS $170 → $195 Upgrades Neutral → Buy 01/16/2024 -4.6% Barclays $165 → $160 Maintains Equal-Weight 12/14/2023 -8.17% Truist Securities $150 → $154 Maintains Hold 11/15/2023 25.22% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -4.6% B of A Securities → $160 Maintains Neutral 10/25/2023 -4.6% Stifel $180 → $160 Maintains Hold 10/25/2023 16.27% BMO Capital → $195 Maintains Outperform 10/25/2023 -22.49% Baird $180 → $130 Maintains Neutral 10/25/2023 -15.33% Citigroup $182 → $142 Maintains Neutral 10/25/2023 1.37% JP Morgan $200 → $170 Maintains Overweight 10/25/2023 -10.56% Truist Securities $165 → $150 Maintains Hold 10/25/2023 -4.6% Mizuho $181 → $160 Maintains