Texas Instruments Inc said on Tuesday its fourth-quarter earnings and revenue would be at the high end of its target range, but its shares fell almost 2 percent as some investors had higher expectations.

TI said it now expects earnings per share of 47 cents to 51 cents for the current quarter, compared with its previous target of 42 cents to 50 cents, issued October 19.

It forecast fourth-quarter revenue of $2.9 billion to $3.02 billion compared with its previous expectation for a range of $2.78 billion to $3.02 billion.

Analysts on average had expected revenue of $2.925 billion, which was slightly higher than the mid-point of the company's previous guidance range, according to Thomson Reuters I/B/E/S.

TI shares fell 1.7 percent to $25.86 in after-hours trade. The stock had closed down 29 cents, or 1 percent, at $26.33 in regular New York Stock Exchange trade on Tuesday.

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