Texas Instruments Shares Slide on Weak 3Q Forecast

By Natalie Weger

Texas Instruments shares slid after the Dallas-based chip maker reported a weak forecast for the third quarter.

Shares were down 12.2% at $188.72 on Wednesday. The company is on pace for the largest percent decrease since July 22, 2008, when it fell 14.62%.

Despite recording higher profit and sales in the second quarter, the company guided for third-quarter earnings per share of $1.36 to $1.60. The midpoint of the company's earnings per share forecast fell below the $1.51 per share estimate analysts are expecting in the third quarter, according to FactSet.

Texas Instruments guided for third-quarter revenue of $4.45 billion to $4.8 billion. Analysts polled by FactSet expect $4.65 billion.

Write to Natalie Weger at natalie.weger@wsj.com