The semiconductor recovery carries on exactly as planned.

That's the takeaway from the mid-quarter update by chip giant Texas Instruments (NYSE: TXN), wherein management simply narrowed the previous guidance range to the upper half of the original forecast. Sales are now expected to be $3.07 billion to $3.19 billion, and earnings should be $0.48 to $0.52.

All of the company's segments are growing, with the expected exception of wireless chips, which is falling into the usual pattern of declines in the spring. Following recent industry trends, demand is higher than the current manufacturing capacity, but Texas Instruments has invested heavily in capacity upgrades lately and expects to work through these limits in the coming quarters. Despite the seasonal patterns mentioned above, management gave credit to the rising popularity of smartphones for much of the demand, as TI chips can play several roles in such handsets.

These updates from Texas Instruments fall in the doldrums of the earnings season, where no major chip makers live. Major competitors and peers like Intel (Nasdaq: INTC), Broadcom (Nasdaq: BRCM), and Analog Devices (NYSE: ADI) all reported sterling earnings over the past couple months and won't be heard from again for another month or so. Sure, Marvell Technoloy (Nasdaq: MRVL) reported last week -- and it was a fine report indeed -- but that's a smaller and more specialized chip designer. Hence TI's status as the lone weather vane in the off season of semiconductor earnings.

All in all, it's business as usual for Texas Instruments, and for the sector as a whole. The most eagerly anticipated mobile gadget launch in the coming months is the Apple (Nasdaq: AAPL) iPad, which does not feature a TI chip at its heart. However, chances are good that several copycat efforts from the likes of Samsung and Nokia (NYSE: NOK) will feature its OMAP processors and provide a catalyst for the next quarter.

No surprises and no disasters in the current quarter, though. Move along to Motley Fool CAPS and show us how you feel about Texas Instruments with a thumbs-up or thumbs-down rating -- we're done here.

Fool contributor Anders Bylund doesn't hold a position in any of the companies discussed here. Intel and Nokia are Motley Fool Inside Value picks. Apple is a Stock Advisor recommendation. The Fool has created a covered strangle position on Intel. Motley Fool Options has recommended a buy calls position on Intel. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.