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Investing

Texas Instruments (TXN): Better Than Forecast

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By Douglas A. McIntyre Published

Wall St. was disappointed by the Texas Instruments (TXN) mid-quarter forecast and cut the stock down after hours. The company said sales for the Q would be in the range of $3.36 billion to $3.51 billion. It had previously said the range would be $3.32 billion to $3.6 billion.

But inside the numbers, TI is doing quite well in its most critical business, chips for cell handsets. The slight trouble in the company’s forecasts were due to slow sales in the calculator market. But, calculators are not the company’s future. TI’s largest customer, Nokia (NOK) last month said "inventory conditions are improving:,according to MarketWatch. And TI management put a point on that: "Growth has resumed as expected following the inventory correction of the past few quarters," said TI Vice President Ron Slaymaker.

TI’s shares are trading near a five-year high at $35.79. They should be. With a recovery in sales to Nokia, the company is likely due for some stronger quarters. Sales of back-to-school calculators are not going to ruin that.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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