LOS ANGELES-Texas Instruments Inc. shares took a 4-percent tumble on the news of its optimistic first-quarter revenue forecast on its semiconductor business.
TI said it anticipated revenue of between $2.8 billion and $2.9 billion and earnings of between 19 cents and 22 cents.
“I would describe what we’re seeing as pretty broad-based strength,” said Ron Slaymaker, the company’s vice president of investor relations at TI.
Analysts think the modest performance of the shares reflects a pattern of caution among buyers in the Nasdaq and Philadelphia Semiconductor Index.
