Texas Instruments Inc. (NASDAQ:TXN) [Trend Analysis] slightly up in pre trading session on Thursday as it estimate Q2 sales that might exceed some analysts’ estimates, indicating greater demand from carmakers for parts needed to add automation and entertainment systems to new vehicles. Second-quarter sales will be $3.07 billion to $3.33 billion, generating a profit of 67 cents to 77 cents a share, the company said Wednesday in a statement. That compares with average analysts’ estimates for revenue of $3.17 billion and net income of 71 cents, according to data compiled by Bloomberg.
Chipmakers are benefiting, as cars more and more become mobile computers packed with sensors, cameras and networking systems that require more electronic components per vehicle. An analyst at Wedbush Securities, Betsy Van Hees stated that Automotive, industrial and communications are improving. “There’s a lot more content going in cars.”
Texas Instruments Inc. (NASDAQ:TXN) knocking active thrust in leading trading session, shares an increase of 0.88% to 59.92 with around 7.1 Million shares have changed hands in this session. The stock is going forward its fifty-two week low with 39.73% and lagging behind from its 52-week high price with -0.02%.
Likewise, the positive performance for the quarter recorded as 19.15% and for the year was 11.06%, while the YTD performance remained at 10.15%. TXN has Average True Range for 14 days of 0.94.
First Solar, Inc. (NASDAQ:FSLR) [Trend Analysis] retains strong position in active trade, as shares scoring 1.29% to $62.03 in a active trade session. CEO First Solar Inc. declared that Jim Hughes would step down as falling costs help the company accelerate its shift to selling panels rather than developing plants for them. Hughes will be replaced by Chief Financial Officer Mark Widmar from July 1, the Tempe, Arizona-based company said Wednesday in statement. Shares slid in after-market trading after first-quarter revenue missed analyst estimates.
Hughes said he and the board have been working on a succession plan for about a year, taking advantage of a period when the company began to sell panels to other developers for growth instead of just using them in their own projects. He plans to remain on the board and act as an adviser. “The board and I thought it was the right time,” Hughes said on a conference call. “Everyone is very comfortable with it.”
The firm has institutional ownership of 59.10%, while insider ownership included 0.30%. FSLR attains analyst recommendation of 2.10 with week’s performance of 0.50%. Investors looking further ahead will note that the Price to next year’s EPS is -17.88%.