Texas Instruments Nails Q2 Numbers, But Guidance Short-Circuits Rally

Shares of Texas Instruments Inc (NASDAQ:TXN) tanked in early trading on Wednesday, despite the company reporting upbeat second-quarter results.

Here are some key analyst takeaways.

JPMorgan analyst Harlan Sur reiterated an Overweight rating, while raising the price target from $195 to $225.

Benchmark analyst Cody Acree maintained a Buy rating, while lifting the price target from $200 to $220.

Rosenblatt Securities analyst Kevin Garrigan reaffirmed a Buy rating and price target of $245.

BofA Securities analyst Vivek Arya reiterated a Buy rating and price target of $218.

Check out other analyst stock ratings.

JPMorgan: Texas Instruments reported strong results for the second quarter, with revenue, margins and earnings topping expectations. The company's sales came in at $4.45 billion, up 9.3% sequentially and 16% year-on-year, above the consensus of $4.36 billion.

Revenues were driven by "cyclical recovery trends and potential demand pull forward in industrial end markets and China geography," Sur said in a note. The impact of tariffs is “beginning to emerge" and could continue to ...