Shares of Texas Instruments (NASDAQ:TXN) slipped in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $1.85, which beat analysts’ consensus estimate of $1.77 per share. Sales decreased by 10.8% year-over-year, with revenue hitting $4.38 billion. This beat analysts’ expectations of $4.37 billion.
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Management offered up some future projections for Texas Instruments’ second quarter. Earnings per share are expected to be between $1.62 and $1.88 per share compared to the $1.87 consensus. Further, revenue is expected between $4.17 billion and $4.53 billion against the $4.46 billion consensus.
Overall, Wall Street has a consensus price target of $189.56 on Texas Instruments, implying 11.91% upside potential, as indicated by the graphic above.