Company shares lost value on slow-than-expected sales

The global semiconductor market is recovering, albeit at a slower pace than in previous cycles due to macroeconomic dynamics and ongoing uncertainty caused by US trade policy and tariffs, according to Texas Instruments.

America's silicon veteran reported calendar Q3 revenue of $4.74 billion, up 14 percent year-on-year. However, the stock price dropped nine percent in extended trading after the company missed analyst expectations and issued a warning of a sluggish turnaround for the chip sector.

Operating profit edged up slightly to $1.66 billion from $1.55 billion a year earlier.

TI makes a range of components including analog chips and embedded processors, targeting industrial, automotive and enterprise customers.

President and chief exec Haviv Ilan said revenue came in "about as expected," despite the protracted recovery. He claimed customers' "inventory depletion appears to be behind us," and they're ready to start new orders.

"We are well positioned ...