News Stays Good for TI

Texas Instruments (NYSE: TXN  ) shares got a small bump in after-hours trading yesterday, after the company raised its fourth-quarter outlook, citing strong demand.

The chipmaker now expects to earn between $0.25 and $0.27 per share for the quarter. Excluding a $0.07 per-share gain from the sale of 32.4 million shares of Micron (NYSE: MU  ) stock, earnings will come in at $0.18 to $0.20, better than the previous outlook of $0.14 to $0.19 per share.

While wireless continues to drive results, the company confirms it is seeing strong demand "across a broad range" of semiconductor products. As a result, it expects semiconductor revenue between $2.33 billion and $2.44 billion, rather than $2.185 to $2.365 billion.

Overall, total revenue will come in between $2.64 billion and $2.77 billion, up from its previous guidance of $2.49 billion to $2.70 billion.

Management also updated its guidance for other segments. The company now expects sensors and controls revenues of $245 million to $255 million vs. prior expectations of $235 million to $255 million. However, TI lowered the top end of its educational and productivity solutions revenue; the company now expects $70 million to $75 million for the quarter, instead of $70 million to $80 million.

Texas Instruments shares have doubled off their January lows, thanks largely to strong wireless demand. But it's the improving performance across other lines that could support TI at today's prices.

TI investors should pay a visit to our Texas Instruments discussion board. Jeff Hwang can be reached at JHwang@fool.com.