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Lehman Cuts First Quarter, 2001 Estimates on Texas Instruments

Lehman Brothers

cut its first-quarter earnings forecast for

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

to 32 cents a share from 34 cents, citing a continued weak order environment.

The firm also cut the chipmaker's fiscal 2001 estimates to $1.48 a share from $1.53.

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Analysts polled by

First Call/Thomson Financial

expect the company to earn 35 cents a share for the first quarter and $1.56 a share for the full year 2001.

Shares of Texas Instruments were recently trading down 19 cents, or 0.4%, to $43.56 on the

New York Stock Exchange

. The shares have traded as low as $41 today.