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Texas Instruments (TXN - Analyst Report) or “TI” recently announced the introduction of new technologies that will enable smart grid developers to create the next generation of products for smart metering, grid infrastructure and communication systems that make up the Internet of Things (IOT).

TI’s new metrology solutions enable enhanced performance and increased memory while keeping cost to a minimum. Metrology refers to the science of measurement. TI's ultrasonic flow metering solution provides high levels of accuracy, intelligence and flexibility.

TI has been extending its portfolio of wired and wireless connectivity solutions. The Smart Data Concentrator that enables strong automated meter reading (AMR), advanced metering infrastructure (AMI), and sensor network automation applications allows utilities to simultaneously connect and manage more than 2,000 e-meters using TI's highly scalable Sitara™ AM3359 processor.

TI’s constant endeavor to develop products targeting different applications such as microcontroller, factory automation, smart grid, high-voltage power, and LED lighting and control should help it grow revenue even as it moves away from some traditional markets.

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.

The Analog business grew 5.9% sequentially while declining 3.1% year over year. TI attributed the sequential increase to a resurgent SVA (both industrial and automotive), which the company stated was already gaining market share, ahead of plan.

Currently, Texas Instruments has a Zacks Rank #2 (Buy). Other stocks that look attractive this season include Microchip Technology Inc (MCHP - Analyst Report), Intersil Corp (ISIL - Snapshot Report) and Cubic Corp (CUB - Snapshot Report), all with a Zacks Rank # 2.

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