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Texas Instruments (TXN - Analyst Report) or "TI” recently announced its collaboration with Hitex Development Tools for the launch of the SafeTI Hitex Safety Kit.

The next-gen kit is capable of hardware fault injection, application and profiling of fault diagnostics and system response monitoring in real-time. Thus, SafeTI Hitex Safety Kit helps customers to evaluate the performance of components which are to be used in safety-critical designs.

The kit further includes host-based graphical-user interface (GUI), which enables fault detection, applying diagnostics, profiling run-time of fault diagnostics, time-stamp system response and set configurations. It also comes with an on-board JTAG emulator, accelerometer, CAN transceiver, LCD module, temperature sensor, USB Hub controller and communication port converter.

The collaboration will provide a boost to TI’s broad portfolio of microcontrollers (MCUs) and software, which includes ultra-low-power MSP MCUs, real-time control C2000 MCUs, Tiva ARM MCUs and Hercules ARM MCUs.

Thus, TI’s constant endeavor to develop products targeting different applications such as microcontroller, factory automation, smart grid, high-voltage power, LED lighting and control may boost its revenue growth in the future.

In the first quarter of fiscal 2013, TI generated total revenue of $2.89 billion, which was down 3.2% sequentially and 7.6% year over year (slightly better than the mid-point of the recently narrowed guidance range of $2.80 billion to $2.91 billion).

The Analog business fell 1.3% sequentially and 2.3% year over year. TI attributed the year-over-year decline primarily to SVA, which continues to shift to a consignment model. HVAL and HPA also declined but were offset by an increase in the power management product line.

Texas Instruments has a Zacks Rank #3 (Hold). Other semiconductor stocks that are worth considering include Linear Technology Corp. (LLTC - Analyst Report), ON Semiconductor Corp. (ONNN - Analyst Report) and Intersil Corp. (ISIL - Snapshot Report), all carrying a Zacks Rank #2 (Buy).

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