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HomeBusinessTexas Instruments’ Q2 Earnings Preview

Texas Instruments’ Q2 Earnings Preview

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Deutsche Bank analysts provided their views on Texas Instruments Incorporated (NASDAQ:TXN) ahead of the company’s upcoming Q2 results, scheduled to be released on July 26.
The analysts expect the company to comfortably exceed Street expectations, as they still view the 10% China-related haircut it took to guidance last quarter to be more of a “mullet” in nature. While the company may see incremental weakness in the second half of the year due to PC/Handset softness, the analysts believe 2022 Street estimates remain achievable.
However, the analysts lowered their estimates for 2023/24 to reflect the likelihood of worsening macro in 2023. Overall, the analysts believe the company will be far from immune should the semis industry enter a downturn in the coming quarters, with the impact likely somewhat exacerbated by rising depreciation costs from its capacity expansion plans. The analysts lowered their price target on the company’s shares to $160 from $175, while maintaining their hold rating.

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