Texas Instruments Remains in Cruise Control with Hearty Auto and Industrial Chip Demand
Texas Instruments reported second-quarter earnings that were ahead of our expectations and at the high end of management's previously forecast range. The company's third-quarter forecast also calls for rosy business conditions, and TI does not yet see many signs that the analog chip industry is at the top of the cycle and that a looming downturn is pending. We plan to modestly raise our fair value estimate to $78 from $76 for wide-moat TI. We would continue to wait for a wider margin of safety b...Texas Instruments designs and makes semiconductors that it sells to electronics designers and manufacturers. The company has two reportable segments: Analog and Embedded Processing. The company's analog semiconductors change signals, such as sound, temperature, pressure or images to a stream of digital data. The company's analog segment primary product lines includes: power, signal chain, and high volume. The company's embedded processors are designed to handle specific tasks and can be optimized for various combinations of performance, power and cost, depending on the application. The company's embedded processing segment primary product lines includes: connected microcontrollers and processors.
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