Analysts are Cutting Price Targets of These 5 Tech Stocks After Earnings

4. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 46

Texas Instruments Incorporated (NASDAQ:TXN) released its second-quarter results earlier this week, easily beating the consensus for both profit and sales. Yet, Mizuho trimmed its price target for the semiconductor giant from $175 per share to $168 per share on Wednesday, July 27. Mizuho analyst Vijay Rakesh thinks that Texas Instruments Incorporated (NASDAQ:TXN) could face pricing pressure amid an improving industry supply.

Looking at the latest performance, Texas Instruments Incorporated (NASDAQ:TXN) reported earnings of $2.45 per share for the second quarter, well above $2.13 per share estimated by analysts. The quarterly revenue of $5.21 billion also smashed the consensus of $4.65 billion.

For the current quarter, Texas Instruments Incorporated (NASDAQ:TXN) expects revenue in the range of $4.9 – $5.3 billion. The midpoint of the guidance is slightly above the expectations of $4.98 billion.