Chip Sales Bounce Back at Texas Instruments

The scorching chip sector could feel more juice Tuesday after Texas Instruments(TXN Quote) reaffirmed guidance and said semiconductor sales in January and February were relatively strong.

Speaking at a conference, Chief Executive Tom Engibous said TI expects first-quarter revenues that are flat with the fourth quarter's $1.79 billion and break-even on a pro forma basis, which would match analysts' consensus estimates.

The company said semiconductor orders in the first two months of the first quarter were strong compared with the first two months of the fourth quarter. As a result, the company's book-to-bill ratio could be close to 1 for the first quarter and semiconductor revenue could grow sequentially. ...