Texas Instruments (NYSE:TXN) Guidance Above Street Expectations

While Texas Instruments' (NYSE:TXN) guidance was above Street estimates, Susquehanna sees share growth taking time.

Susquehanna said, "While management's commentary suggests that the inventory correction is largely over, bookings declined by 9%, a function of shortening lead times. Going forward, we think accelerating top-line growth will require significant share gains, which will likely take time, and runs the risk of pricing pressure."

They boosted their full year EPS estimate on Texas Instruments from $2.43 to $2.51 in response to their revised guidance.

Susquehanna reiterates a "Neutral" rating on Texas Instruments (TXN), which closed Tuesday at $33.98, down $0.67, or 1.93 percent. Susquehanna raised their price target on TXN from $25 to $35.