Texas Instruments Incorporated (NASDAQ:TXN) shares are trading higher on Wednesday in the premarket session.

The company reported first-quarter revenue of $3.66 billion, which beat the consensus estimate of $3.611 billion.

According to Benzinga Pro, TXN stock has lost over 3% in the past month.

Quarterly gross profit decreased to $2.095 billion from $2.863 billion. Operating profit in the quarter under review decreased to $1.286 billion from $1.934 billion.

Revenue decreased 16% from the same quarter a year ago and 10% sequentially, as revenue declined across all end markets.

Over the past 12 months, the company invested $3.7 billion in R&D and SG&A, $5.3 billion in capital expenditures, and returned $4.8 billion to owners.

Texas Instruments expects second-quarter revenue to be in the range of $3.65 billion to $3.95 billion, with earnings in the range of $1.05 to $1.25 per share.

Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) and FT Vest Technology Dividend Target Income ETF (BATS:TDVI).

Price Action: TXN shares are trading higher by 7.12% to $177.25 premarket at last check Wednesday.

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