Texas Instruments Inc (NASDAQ: TXN) shares are trading lower Thursday despite the company reporting better-than expected Q2 financial results.
Jim Cramer said Thursday on CNBC’s ‘Squawk On The Street’ that the conference call was ‘one of the worst conference calls’ he has ever heard. The company told a ‘negative story,’ Cramer added.
Texas Instruments reported Q2 earnings of $2.05 per share, which beat the consensus estimate of $1.82 per share. The company reported quarterly revenue of $4.58 billion, which beat the consensus estimate of $4.35 billion.
Analyst Assessment: Raymond James analyst Chris Caso maintained Texas Instruments with an Outperform rating and raised their price target from $220 to $230.
Morgan Stanley analyst Craig Hettenbach maintained Texas Instruments with an Underweight rating and raised their price target from $185 to $193.
Price Action: Texas Instruments has traded as high as $197.58 and as low as $125.43 over a 52-week period.
At last check Thursday, the stock was down 4.8% at $184.91.
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