Updated from 11:22 a.m. EDT

SAN FRANCISCO -- Shares of Texas Instruments ( TXN) moved higher in early Tuesday trading, a day after the Dallas chipmaker raised the midpoint of its first-quarter revenue forecast.

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.