Key Takeaways Texas Instruments' Q3 earnings of $1.48 beat estimates and rose 1% year over year.Revenues climbed 14% to $4.74B, driven by 16% growth in the Analog segment.Q4 guidance calls for sales in the $4.22-$4.58 billion and EPS between $1.13 and $1.39.Texas Instruments ((TXN) reported better-than-expected third-quarter 2025 results. The company reported third-quarter earnings per share of $1.48, which beat the Zacks Consensus Estimate by 0.7% and came at the midpoint of management’s guidance of $1.36 ...

Bashar is a contributing writer at Seeking Alpha, focusing on Long/Short investment ideas, with a geographic focus in North America. Before that, Bashar worked at an Investment Fund in the United Kingdom. He has a Master's degree in Finance from the Queen Mary University of London and a Bachelor's degree in Economics from Middlesex University.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within th ...

Summary of Texas Instruments Q3 2025 Earnings Call Company Overview - **Company**: Texas Instruments (TI) - **Quarter**: Q3 2025 - **Revenue**: $4.7 billion - **Gross Margin**: 57% - **Net Income**: $1.4 billion - **Earnings Per Share (EPS)**: $1.48, including a $0.10 reduction - **Operating Cash Flow**: $2.2 billion - **Free Cash Flow**: $2.4 billion, including $637 million from the CHIPS Act incentive - **Debt**: $14 billion with a weighted average coupon rate of 4% [2][6] Financial Performance - **Q3 Revenue Growth**: 7% quarter-over-quarter and 14% year-over-year [3] - **Segment Performance**: - Analog business grew 16% year-over-year - Embedded processing grew 9% year-over-year - Other segments grew 11% year-over-year [3] - **Q4 Guidance**: Expected revenue between $4.22 billion and $4.58 billion, with EPS between $1.13 and $1.39 [7] Market and Industry Insights - **Semiconductor Market**: Continuing recovery but at a slower pace due to macroeconomic dynamics and uncertainties [4] - **Customer Inventory Levels**: Remain low, with inventory consumption appearing to have ended [4] - **End Markets**: - Industrial market grew approximately 25% year-over-year - Automotive market grew in single digits year-over-year and approximately 10% quarter-over-quarter - Personal electronics showed single-digit growth both year-over-year and quarter-over-quarter - China market has returned to normal, with a year-over-year growth of about 40% [2][4][17] Cost and Margin Expectations - **Q4 Gross Margin**: Expected to decline to around 55% due to revenue decrease and increased depreciation costs [2][14] - **Depreciation Costs**: Expected to increase by $1.8 billion to $2 billion in 2025 [14] - **Operational Adjustments**: Adjusting backlog demand and supply to maintain ideal inventory levels [9] Capital Management - **Dividend Increase**: Announced a 4% increase in dividends, marking the 22nd consecutive year of dividend increases [2] - **Share Buyback**: $1.19 billion in stock repurchases during the quarter [6] - **Future Capital Expenditures**: Expected to be between $2 billion and $2.6 billion, with potential for lower spending if recovery remains moderate [18][19] Strategic Initiatives - **Restructuring Plans**: Involves gradually closing 150mm wafer fabs and consolidating R&D investments that are underperforming [10] - **Focus on Data Center Market**: Anticipated annual revenue of approximately $1.2 billion, with a growth rate of about 50% in the first three quarters of the year [22] Additional Considerations - **Economic Outlook**: The recovery is moderate, with customers cautious about capital expenditures due to uncertainties like tariff rates [20] - **Inventory Management**: Adjustments made to maintain stable inventory levels, with expectations of a slight decrease in load factors [21] - **No Significant Anomalies**: No notable positive or negative anomalies in terminal markets for the December quarter [23]

智通财经APP获悉，周三，德州仪器(TXN.US)跌6%，报170.08美元。消息面上，德州仪器预计，第四 季度收入将达到42.2亿-45.8亿美元，分析师此前的平均预期为45亿美元，每股收益为1.13至1.39美元， 也逊于市场预期。这一业绩展望表明，在应对日益加剧的贸易紧张局势和不稳定的经济之际，客户正在 放缓订单。 摩根士丹利维持对德州仪器"减持"评级，将目标价从192美元下调至175美元。 由Joseph Moore领衔的分 析师表示："德州仪器在9月份业绩有所增长，我们原本预计12月份会面临一些利润率压力，但营收指引 不佳这一情况出乎我们的意料。" （原标题：美股异动 | 德州仪器(TXN.US)跌6% Q4业绩逊预期遭大行下调目标价） ...

Core Insights - The analog chip company's latest results indicate a more subdued path to recovery, suggesting challenges ahead for growth and profitability [1] Financial Performance - The company's recent financial results reflect a slower-than-expected recovery trajectory, impacting investor sentiment [1] Market Outlook - The outlook for the analog chip industry appears cautious, with potential headwinds affecting demand and pricing strategies [1]

每经AI快讯，10月22日，美股三大指数开盘涨跌不一，道指跌0.03%，纳指跌0.1%，标普500指数涨 0.07%。德州仪器跌超9%，公司第四财季业绩预期低于分析师预期；奈飞跌超7%。人造肉第一股 Beyond Meat大涨70%，该公司过去三个交易日累涨约600%。 ...

Group 1 - The U.S. stock market opened with mixed results, with the Nasdaq down 0.1%, the S&P 500 up 0.04%, and the Dow Jones down 0.01% [1] - Netflix shares fell by 8.7% after Q3 net profit missed expectations, and the company lowered its full-year operating margin guidance to 29% [1] - Texas Instruments experienced a 9.3% drop as its Q4 outlook fell short of expectations, indicating a slowdown in the semiconductor market recovery [1] Group 2 - Intuitive Surgical saw a pre-market surge of over 18%, with Q3 total revenue and adjusted earnings per share exceeding expectations [1] - Beyond Meat, referred to as the "first stock of plant-based meat," surged over 70%, driven by the announcement of an expanded product sales network at Walmart [1]

分析师们还表示，他们预计这种季节性现象会持续到明年三月份，这意味着相关数据还需进一步下降， 但鉴于当前的背景情况，最终降低利用率是正确的举措。 Curtis及其团队表示："我们预计模拟芯片板块的其他部分与预期相比也会出现类似的疲软表现，这些预 期仍假定会迎来周期性复苏。我们在通用汽车业务方面的表现一直低于市场预期，但随着此次调整，这 一差距应该会缩小。鉴于模拟芯片板块目前尚未出现任何周期性复苏迹象，且可能要到明年第二季度才 会出现，我们并不看好该板块。对于德州仪器，我们则持观望态度。" 摩根士丹利维持对德州仪器"减持"评级，将目标价从 192 美元下调至 175 美元。 智通财经APP获悉，截至发稿，周三盘前，德州仪器(TXN.US)的股价下跌了约 8%。此前该公司公布的 第三季度业绩喜忧参半，业绩指引不乐观，这使得分析师们的反应较为悲观。 杰富瑞维持对德州仪器"持有"评级，并将目标价从 185 美元下调至 180 美元。 杰富瑞分析师Blayne Curtis表示："这份报告反映出该行业通常会出现的季节性下滑现象，而模拟芯片板 块的周期性增长似乎暂时停滞了。德州仪器最终降低了生产利用率，以减缓库存的增加，但 ...

Core Viewpoint - Texas Instruments, a leading analog chip manufacturer, has released a pessimistic earnings forecast for Q4, causing significant concern about the semiconductor industry's recovery [2][4]. Group 1: Earnings Forecast and Market Reaction - Texas Instruments' stock price dropped over 9% in pre-market trading following the release of its Q4 revenue forecast, which is expected to be between $4.22 billion and $4.58 billion, falling short of Wall Street's average expectation of $4.5 billion [2][3][4]. - The company reported Q3 revenue of $4.74 billion, a 14% year-over-year increase, but earnings per share of $1.48 did not meet market expectations [4]. - The CEO indicated that industrial customers are adopting a "wait and see" approach due to uncertainties related to potential tariff increases from the U.S. government [2][4]. Group 2: Market Position and Competitive Landscape - Texas Instruments holds approximately 19%-20% market share in the analog chip segment and is a key player in the MCU chip market, with products used across various end markets including automotive, industrial, and consumer electronics [8]. - The company is facing intensified competition in the Chinese market, which has returned to normal operations without the previous trend of "advance orders" [8]. - Texas Instruments has reached optimal inventory levels and is slowing down factory operations to avoid excessive inventory, which may impact short-term profitability [8]. Group 3: Future Outlook and Investment Considerations - In light of weak demand growth, Texas Instruments is considering slowing its expansion plans, with capital expenditures expected to decrease from approximately $5 billion this year to between $2 billion and $3 billion next year [9]. - Barclays Bank has maintained a "underweight" rating on Texas Instruments, citing ongoing weakness in the industrial and automotive markets and the risk of further downward adjustments to earnings expectations [9].

Shares of Texas Instruments (NASDAQ: TXN) tumbled more than 8% in premarket trading on Wednesday after the chipmaker issued a disappointing profit and revenue forecast for the fourth quarter. The guid... ...