Texas Instruments Inc. gave a bullish forecast for the current quarter, signaling that demand is rebounding for semiconductors for vehicles, personal electronics and industrial use.Sales will be US$3.79 billion to US$4.11 billion and profit is expected to be US$1.44 to US$1.66 a share in the period ending in March, the company said Tuesday in a statement. On average, analysts predicted profit of US$1.33 a share and sales of US$3.58 billion, according to data compiled by Bloomberg.

Texas Instruments gets the biggest chunk of its sales from manufacturers of industrial equipment, making its earnings and forecasts a bellwether for the broader economy. It also produces semiconductors that go into everything from vehicles to home electronics and space hardware. The company has said that automotive demand has rebounded but overall growth is being held back by weaker economic activity during the pandemic lockdown.In the fourth quarter, net income rose to US$1.69 billion, or US$1.80 per share, from US$1.07 billion, or US$1.12, a year earlier, the Dallas-based company said. Revenue was US$4.08 billion, compared with an average analyst estimate of US$3.58 billion.

Shares were little changed in extended trading after closing at US$171.47 in New York. The stock gained 28 per cent in 2020, and is up 4.5 per cent this year. The shares have trailed the performance of the broader Philadelphia Stock Exchange Semiconductor Index in both periods.