Analysts expect Texas Instruments to raise guidance for first quarter in scheduled update
By APMonday, March 8, 2010
Ahead of the Bell: Texas Instruments update
NEW YORK — Analysts expect chip maker Texas Instruments Inc. to shift its forecast for the current quarter somewhat higher late Monday as business continues to recover.
The Dallas chip maker is scheduled to provide its regular mid-quarter financial update after the market closes.
TI has previously forecast a profit of 44 cents per share to 52 cents per share, and revenue of $2.95 billion to $3.19 billion.
Analyst Adam Benjamin with Jefferies and Co. said his firm’s checks found that TI had “strong order rates” that should help lift its numbers to the high end of the previous guidance.
Ambrish Srivastava at BMO Capital markets agreed that demand continues to improve, and did not see any signs of meaningful order cancellations.
On average, analysts polled by Thomson Reuters expect results slightly above the midpoint of the Dallas-based company’s forecast. They expect earnings of 49 cents per share on $3.08 billion in revenue.
