Why Texas Instruments Rocketed Higher Today
Shares of Texas Instruments (NASDAQ: TXN) rallied 19.5% on Thursday as of 12:38 p.m. EDT, sending shares to a new all-time high.
The embedded and analog semiconductor sector, which Texas Instruments leads, has been in a longer-than-usual downturn since the post-pandemic crash that began in 2023. However, last night's outstanding earnings report and guidance seemed to indicate that the long downturn is over and the up cycle has a ways to run.
In the first quarter, Texas Instruments showed revenue growth of 18.7% to $4.83 billion, while earnings per share rallied 31.3% to $1.68 per share. Both figures handily beat expectations. Management guided for continued strength in the current quarter, projecting revenue of $5.0 billion to $5.4 billion and EPS of $1.77 to $2.05, relative to analyst estimates of $4.87 billion and $1.57, respectively.
Source Fool.com
