NEW YORK (TheStreet) -- Shares of Texas Instruments (TXN) - Get Report were largely flat in after-hours trading on Wednesday after the company posted better-than-expected results for the 2016 third quarter.
After today's closing bell, the Dallas-based semiconductor maker reported earnings of 94 cents per share, exceeding analysts' projections of 86 cents per share.
Revenue for the period was $3.68 billion, while analysts had forecast $3.48 billion.
"Compared with a year ago, demand for our products continued to be strong in the automotive market and improved in the industrial market. Demand in the personal electronics market was about even with a year ago," CEO Rich Templeton said in a statement.
For the fourth quarter, Texas Instruments sees earnings per share between 76 cents and 86 cents on revenue of $3.17 billion to $3.43 billion, in line with Wall Street's estimates.
Analysts are looking for earnings of 79 cents per share on revenue of $3.30 billion for the current period.
Additionally, the company raised its quarterly dividend by 32% to 50 cents per share. The quarterly dividend will be payable November 21 to shareholders of record on November 7.
About 7.89 million of the company's shares changed hands today vs. its average 30-day volume of 4.36 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TXN