Texas Instruments Signals Growing Demand in Chips for Cars
- Current quarter forecast also projects industrial segment gain
- Strategy to broaden markets paying off with steady sales
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Texas Instruments Inc., the largest maker of analog semiconductors that are the basic building blocks of every electronic device, gave a forecast that indicated steady demand from the automotive industry.
Third-quarter profit will be $1.04 to $1.18 a share, the Dallas-based company said Tuesday in a statement. Revenue will be $3.74 billion to $4.06 billion. Analysts on average projected profit of $1.05 a share on sales of $3.8 billion, according to data compiled by Bloomberg.