DALLAS (

TheStreet

) --

Texas Instruments

(TXN) - Get Report

has released a confident update to its fourth-quarter guidance, providing further evidence of the

tech sector's recovery

.

The large chipmaker, which

competes

with

Qualcomm

(QCOM) - Get Report

and

ST-Microelectronics

(STM) - Get Report

TST Recommends

, released its mid-quarter update after market close on Tuesday. The component specialist now expects fourth-quarter revenue to hit between $2.9 billion and $3.02 billion, compared to its prior range of $2.78 billion and $3.02 billion.

Texas Instruments also expects earnings between 47 cents and 51 cents a share when it reports in January, up from its previous estimate of 42 cents to 50 cents a share.

The forecast sits at the high end of Wall Street's guidance. Analysts surveyed by Thomson Reuters, for example, expect the silicon specialist to post revenue of $2.93 billion and earn 47 cents a share.

Texas Instruments' numbers are not exactly out of the blue. It

beat

Wall Street's third-quarter estimates despite lower profit, boosted by sales of its analog products.

Like

Intel

(INTC) - Get Report

, which also reported good third-quarter

numbers

, Texas Instruments is a key

barometer

for the tech sector, providing core components for cellphones and other electronic devices.

Shares of Texas Instruments dipped 74 cents, or 2.81%, to $26.41 in extended trading.

-- Reported by James Rogers in New York