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Texas Instruments (TXN - Analyst Report), or "TI,” recently launched an LED driver, TPS92690 for automotive headlamps, fog lights and general-purpose area lighting.

TI’s TPS92690 is a high-power, multi-topology DC/DC LED driver with adjustable switching frequency. This provides designers flexibility and low electro-magnetic interference (EMI) while designing lights for automobiles and general-purpose area lighting.  

Further, the TPS92690 LED driver comes with an adjustable switching frequency of up to 2 MHz. This along with a current sense threshold enable designers to customize LED drive electronics for small size, high efficiency or a combination of both.  It is equipped with pulse-width modulation (PWM), analog inputs interface and regular dimming control to execute thermal foldback or adjust LED current.  It comes with a price tag of $1.55 per 1000 units.

TI’s increasing focus on new products should generate good returns. The company’s diverse portfolio targeting different market segments such as smart grid, factory automation, high-voltage power, LED lighting and control are also positives for its future revenue growth.

In the first quarter of fiscal 2013, TI generated total revenue of $2.89 billion, which was down3.2% sequentially and 7.6% year over year (toward the higher end of the 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 STMicroelectronics NV (STM - Snapshot Report), Microchip Technology Inc. (MCHP - Analyst Report) and Intersil Corp. (ISIL - Snapshot Report). STMicroelectronics has a Zacks Rank #1 (Strong Buy) while Microchip and Intersil have a Zacks Rank #2 (Buy).

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