Analysts, however, feel that Texas Instruments faces an uphill struggle during the coming months.
"Growth is likely to remain slow in the back half of the year due to a lack of seasonality for PCs and handsets, exacerbated by inventory growth for analog ICs
Burleson, who has a hold rating on Texas Instruments, lowered his 12-month price target to $28 from $32 on the stock.
Nomura Equity Research, which has a neutral rating on TI, also cut its price target, going to $30 from $32. Texas Instruments' third-quarter outlook is worse than peers such as Intel and logic chip maker Xilinx (XLNX - Get Report), according to Nomura analyst Romit Shah.-- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.