Texas Instruments (TXN) Stock Dips After Hours Despite Q3 Beat and Strong Q4 Outlook

TLDR Texas Instruments (TXN) stock slipped 0.5% to about $283 after hours, after rising 2.47% in the regular session. Q3 earnings per share were $2.62 on revenue of $6.06 billion, up 28% from a year ago. Both beat estimates. Q4 revenue guidance of $5.8 billion to $6.3 billion and EPS guidance of $2.45 to $2.79 topped analyst forecasts. The stock is down 14% from its June all-time high and trades at about 28 times projected earnings. Wells Fargo cut its price target to $300, while Lam Research fell 5.1% after its own report. Texas Instruments (TXN) stock slipped 0.5% to about $283 in after-hours trading Wednesday. The move came after the chipmaker reported third-quarter results that beat Wall Street estimates.

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