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Tepid Forecast Trips Up Texas Instruments

Stock quotes in this article: TXN , NOK , STM , QCOM  

Updated from 5:13 p.m. EDT

With a slowdown in demand pinching one of its key product lines, Texas Instruments(TXN Quote) is planning for more tough times ahead.

The Dallas chipmaker said Monday that it is dialing down manufacturing activity at its semiconductor factories and will hold the line on operating expenses in the coming quarters.

TI described the moves as prudent steps to see the company through a period in which revenue is now forecast to fall below the company's -- and Wall Street's -- expectations. ...

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