Updated from 11:22 a.m. EDT
The stock was recently up 97 cents, or 6.6%, to $15.66.
Wall Street wasn't expecting many positive vibes from TI's announcement, given that the company had announced in late January that it was laying off 12% of its workforce.On Tuesday, Jefferies analyst Adam Benjamin maintained his negativity, recommending that investors sell the stock given the numerous headwinds TI faces limiting revenue growth, including the de-emphasis of wireless as it is "cash cowed," and the continued decline of its high-volume analog chip business. However, Collins Stewart analyst Ashok Kumar deemed the stock's risk/reward as neutral at current levels.
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