TI(US:TXN) 智通财经网·2025-10-22 12:56Core Viewpoint - Texas Instruments (TXN.US) reported mixed Q3 results, leading to an approximately 8% drop in stock price due to pessimistic analyst reactions [1] Group 1: Analyst Ratings and Price Targets - Jefferies maintains a "Hold" rating, lowering the target price from $185 to $180, citing seasonal declines in the industry and pressure on gross margins due to reduced production utilization [2] - Morgan Stanley keeps a "Underweight" rating, reducing the target price from $192 to $175, expressing surprise at the poor revenue guidance despite previous expectations of seasonal growth [3] - CFRA assigns a "Hold" rating, noting Q3 earnings per share of $1.48, slightly below the market expectation of $1.49, while sales grew by 14% [3] Group 2: Financial Performance and Guidance - Q3 revenue guidance for Texas Instruments is disappointing, with expected revenue between $4.22 billion and $4.58 billion, and earnings per share between $1.13 and $1.39, both below market expectations [4] - Analysts expect free cash flow per share to approach $8 to $12 in 2026, assuming stable revenue growth, which may increase cash returns as free cash flow pressure eases [4] Group 3: Market Conditions and Future Outlook - Analysts anticipate that the seasonal phenomenon affecting Texas Instruments will persist until March next year, indicating further declines in relevant data [2] - There is a general expectation of a cyclical recovery in the semiconductor sector, but analysts remain cautious about Texas Instruments' performance until signs of recovery are evident [2][3]