Texas Instruments (NASDAQ:TXN) announced that it was narrowing its revenue forecasting, and increased the low end of its earnings guidance. The company expects revenue of $3.27 billio to $3.41 billion in the third-quarter, versus the prior range of $3.21 billion to $3.47 billion. The company is forecasting 38 cents to 42 cents per share, versus its prior forecast of 34 cents to 42 cents. Analysts were expecting earnings of 38 cents per share and revenue of $3.34 billion.
Shares are flat in early trading.
Keep an eye on shares of chips ETFs, like the iShares PHLX SOXX Semiconductor Index Fund (NASDAQ:SOXX) to see how others in the sector react; Intel (NASDAQ:INTC) and Texas Instruments (NASDAQ:TXN) are the two top holdings in the fund.
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