Texas Instruments Cuts Outlook

NEW YORK ( TheStreet) -- Texas Instruments ( TXN) lowered its fourth-quarter outlook Thursday, saying it's seeing weak demand just about everywhere with wireless chips the sole exception.

The Dallas-based semiconductor maker, whose products are used in tablets, smartphones, and a wide variety of other electronics, now sees earnings of 21 to 25 cents a share for the quarter ending this month with revenue expected to range from $3.19 billion and $3.33 billion.

The company's previous view was for earnings of 28 to 36 cents per share on revenue of $3.26 billion to $3.54 billion in the quarter.

The current average estimate of analysts polled by Thomson Reuters is for a profit of 48 cents a share in the quarter on revenue of $3.41 billion.

In its statement, TI cited "lower demand across a wide range of markets, customers and products, except for Wireless applications processors" for the view.

The stock was last quoted at $28, down 6.4%, on after-hours volume of nearly 600,000.

-- Written by Chris Ciaccia in New York

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