Texas Instruments Inc. (TXN) reported third quarter earnings that were up 12.1% sequentially and 69.4% year over year, beating the Zacks Consensus Estimate by 3 cents. The strong earnings growth was driven by healthy revenues, a better mix of business, cost control and good execution. Despite the positive surprise, Texas Instruments’ shares dropped 1.28% in after-hours trading on continued concerns regarding the slowing of demand, as evident from the first bookings decline in 7 quarters. Texas Instruments has been reporting very strong revenue growth over the past four quarters, indicative of share gains at the expense of its analog peers, particularly National Semiconductor Corp. (NSM) and also possibly Analog Devices Inc. (ADI). Share gains should continue over the next few quarters as well, as the RFAB and other lower-cost facilities
↧