Texas Instruments sees worst rout on weak forecast
The company’s shares fell 7.5 percent to US$185.52 in New York on Friday. That wiped out the stock’s entire gain this year and marked the worst single-day rout since the early days of the COVID-19 pandemic in March 2020. Texas Instruments CEO Haviv Ilan on a conference call with analysts on Thursday said that industrial demand remains slow.
Why Texas Instruments Inc (TXN) Stock is Currently -2.32% Off from Its 20-Day SMA?
Texas Instruments Inc (TXN) stock saw a modest uptick, ending the day at $187.03 which represents a slight increase of $1.51 or 0.81% from the prior close of $185.52. The stock opened at $185.75 and touched a low of $183.
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The semiconductor company predicts a return to growth after more than two years of revenue declines, but the industrial and automotive markets have yet to bottom.
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Harlan Sur, an analyst from J.P. Morgan, maintained the Buy rating on Texas Instruments (TXN – Research Report). The associated price target is ...
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