Texas Instruments Inc. (NASDAQ:TXN) reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates on Wednesday.

Texas Instruments reported first-quarter revenue of $4.83 billion, beating analyst estimates of $4.53 billion. The company reported first-quarter earnings of $1.68 per share, beating analyst estimates of $1.37 per share, according to Benzinga Pro.

Texas Instruments expects second-quarter revenue to be in the range of $5 billion to $5.40 billion, versus estimates of $4.86 billion. The company anticipates second-quarter earnings of $1.77 to $2.05 per share versus estimates of $1.57 per share.

"Our cash flow from operations of $7.8 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production," said Haviv Ilan, chairman, president and CEO of Texas Instruments.

Texas Instruments shares jumped 9.9% to $259.50 in pre-market trading.

These analysts made changes to their price targets on Texas Instruments following earnings announcement.

  • B of A Securities analyst Vivek Arya upgraded the stock from Neutral to Buy and raised the price target from $235 to $320.
  • Goldman Sachs analyst James Schneider maintained Texas Instruments with a Sell and raised the price target from $175 to $200.
  • Baird analyst Tristan Gerra maintained the stock with an Outperform rating and boosted the price target from $225 to $300.
  • Rosenblatt analyst Kevin Cassidy maintained Texas Instruments with a Buy and raised the price target from $240 to $330.
  • Barclays analyst Tom O’Malley upgraded the stock from Underweight to Equal-Weight and raised the price target from $175 to $250.

Considering buying TXN stock? Here’s what analysts think:

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