Since the last six months, Texas Instruments (TXN) stock price showed a bearish trend with a 3.62% price drop. However, the year-to-date (YTD) price of TXN stock showed a slight upside trend with 0.20% of price rise. Ahead of the release of its Q2 2023 report, TXN stock price rose upwards and reached nearly $185.00. Even with the positive earnings results, the stock price is bearing the bears’ increased dominance.
Weekly Price Performance of TXN Stock
Texas Instruments (NASDAQ: TXN) stock price has shown a bearish trend in the last 5-days of trading while dropping $2.57. By showing a 1.51% of weekly price drop, TXN stock price is heading toward the downside. TXN stock price marked a high at $170.46 while the low was $164.50 in the same time period.
As the above chart shows, TXN stock price mostly experiences the potential strength of active bears. Due to increased bears’ dominance, the RSI of TXN stock started its journey towards the oversold zone. It must be noted that after the release of its recent quarter results, TXN stock price has almost shown a continuous price decline.
The price target that analysts are offering is showing at $186.38, up more than 11% from the recent closing price of TXN stock. The maximum estimate of analysts is at $230.00 whereas their minimum estimate is $130.00.
The Financials of Texas Instruments
Texas Instruments Inc. (NASDAQ: TXN), is an American technology company with a market cap of nearly $152.13 Billion. According to the company’s recent Q2 2023 report, its net income is $1.71 Billion.
TXN price-to-sales ratio is 8.14 while the company has an Enterprise Value to EBITDA ratio of 15.37. TXN dividends are paid quarterly whereas its last dividend per share was $1.24 and as of August 11th, the Dividend Yield (TTM)% is 2.97%.
The Q2 2023 results of Texas Instruments state TXN earnings per share (EPS) is $1.87 whereas the estimation was $1.76 which accounts for a 6.11% surprise. The revenue for the same period amounts to $4.53 Billion despite the estimated figure of $4.37 Billion. For the upcoming quarter, the estimated EPS is $1.82, and revenue is expected to reach $4.58 Billion.
Furthermore, the revenue of Texas Instruments Incorporated for the last year reached $20.03 Billion. Out of which, $15.36 Billion came from its highest performing source at the moment, “analog”. China has made its greatest contribution to the revenue figure which last year brought Texas Instruments for $9.84 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/11/txn-stock-price-analysis-bearish-trend-of-stock-after-earnings/