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Texas Instruments (TXN - Analyst Report) or “TI” recently upgraded its Sitara AM335x industrial software development kit (SDK) by adding the Ethernet/IP protocol to the EtherCAT and PROFIBUS protocols. The addition of supporting protocols on a device equipped with an on-chip PRU simplifies industrial automation and makes it affordable for original equipment manufacturers (OEMs).

The new protocol provides modifications for various industrial applications. Addition of the new protocol will make the management of production schedules easier, reduce operating costs and also better integrate other business-based functions. The addition of Ethernet/IP to the Profibus and Ethercat protocols will enable quicker and easier access to production-ready software, thus significantly cutting down on the time to market of their industrial automation designs, including PLCs and input-output devices like sensors and drives.

Texas Instruments, Inc. is a global semiconductor company and one of the world's leading designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics.

In the second quarter of fiscal 2013, TI generated total revenue of $3.05 billion, which was up 5.6% sequentially but down 8.6% year over year and at the mid-point of the narrowed guidance range of $2.99 billion to $3.11 billion.

Currently, Texas Instruments has a Zacks Rank #2 (Buy). Investors may also consider other stocks such as Micron Tech (MU - Analyst Report) with a Zacks Rank # 1 (Strong Buy), Microchip Technology Inc (MCHP - Analyst Report) and Maxlinear Inc (MXL - Snapshot Report), both with  Zacks Rank # 2 (Buy).

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