Texas Instruments Looking Less Conservative (TXN, BRCM, QCOM, MRVL)

Texas Instruments Inc. (NYSE: TXN) has just given its second quarter update, one of the first seen by major chip companies.  The chip giant sees $2.3 billion to $2.5 billion in revenues, above a prior range of $1.95 billion  to $2.40 billion.  The company also gave earnings guidance of $0.14 to $0.22, above its earlier range of $0.01 to $0.15 EPS.  While many were hoping for good news, this boosted shares of the whole sector.

Shares closed up 0.46% at $19.77 in normal trading and shares are trading up at $20.35 after the news in the after-hours session.  Its 52-week trading range is $13.38 to $32.47.

Broadcom Corp. (NASDAQ: BRCM) closed up 1.4% at $25.82, and shares are up another 1% at $26.08 in the after-hours session.

Marvell Technology Group Ltd. (NASDAQ: MRVL) closed down 1.4% at $11.21 today, and shares have not reacted.  QUALCOMM Inc. (NASDAQ: QCOM) closed down 0.07% at $45.37 today, and its shares are flat in after-hours trading.

Jon C. Ogg
June 8, 2009