T-I Update Looks Good Enough On Surface (TXN)

Posted: March 9, 2009 at 3:54 pm

dram-image2Texas Instruments Inc. (NYSE: TXN) said it is now looking for first quarter revenue  of $1.79 billion to $2.05 billion.  The good news is that this is within the company’s prior range of $1.62 to $2.12 billion and within the First Call estimate of $1.86 billion.

The company expects earnings of -$0.08 to breakeven EPS, which is within the prior range of a loss of  $0.11 to a gain of $0.03 EPS and still within striking distance of the First Call target of  a loss of $0.02 EPS.  There is an $80 million restructuring item included here.  While the estimates range includes the item, that charge is now estimated at $0.04 against EPS rather than $0.03.

Shares closed down 0.15% at $14.69 in regular trading, and are down a few pennies at $14.65 in the after-hours session.  The 52-week trading range is $13.38 to $33.00.

These numbers are not any worse than the company reported in January. This report looks like it might have been good enough for tech bottom fishers.

We won’t be too surprised if there are estimate changes as analysts tweak their numbers, but this looks close enough to the prior data that we’d be surprised if any analysts downgrade the stock.

JON C. OGG

Read more: Earnings, Semiconductor
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