TEXAS INSTRUMENTS INC. $62

TEXAS INSTRUMENTS INC. $62 (Nasdaq symbol TXN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.0 billion; Market cap: $62.0 billion; Price-to-sales ratio: 4.9; Dividend yield: 2.5%; TSINetwork Rating: Average; www.ti.com) mainly makes analog chips, which convert inputs like touch, sound and pressure into electronic signals that computers can understand.

In the three months ended March 31, 2016, Texas Instruments’earnings rose 1.8%, to $668 million from $656 million a year earlier. It spent $630 million to buy back shares during the quarter, so earnings per share gained 6.6%, to $0.65 from $0.61.

Overall revenue fell 4.5%, to $3.01 billion from $3.15 billion. Sales of analog chips (63% of the total) declined 7.7% due to slower sales of personal electronic devices. Revenue from embedded processor chips (24%), which perform mathematical calculations, gained 8.5%. However, revenue from other chips and calculators (13%) fell 9.7%.

Texas Instruments is a buy.

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