TI declined 6.2% to $120.55 at last check in Wednesday trading. Along with it:
- Analog Devices (ADI - Get Report) dropped 3.9% to $106.56;
- NXP Semiconductors (NXPI - Get Report) eased 3.1% to $104.49;
- Microchip Technology (MCHP - Get Report) gave up 2.9% to $93.57, and,
- ON Semiconductor (ON - Get Report) fell 2.8% to $18.73.
After the market closed on Tuesday, Dallas-based Texas Instruments reported third-quarter earnings per share fell 5.7% to $1.49 from $1.58. The latest figure included a 9-cent benefit that wasn't in the company's guidance. Analysts surveyed by FactSet were looking for $1.42.
Third-quarter revenue fell 11% to $3.77 billion against the consensus analyst estimate of $3.82 billion.
TI guided for fourth-quarter EPS of 91 cents to $1.09, below the consensus estimate of $1.28. The EPS guidance includes a 9-cent tax benefit.
Fourth-quarter revenue, Texas Instruments said, should come in at $3.07 billion to $3.33 billion, down 22% to 28% and below the FactSet-derived estimate of $3.59 billion.
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