Texas Instruments forecast revenue of $3.17 billion-$3.43 billion for the current quarter, which is not to be sneezed at.

Analysts on average were expecting a revenue of $3.21 billion and it appears the boost came from more orders from the rebounding automotive industry.

The company also named Brian Crutcher, who joined the company in 1996, as its chief operating officer. Crutcher will oversee Texas Instruments' global technology and manufacturing operations in addition to its sales operations.

Texas Instruments said revenue from its analogue unit rose 10.5 percent to $2.29 billion. The business accounts for more than two-thirds of its total revenue.

The company's net income rose to $1.05 billionin the fourth quarter ended December 31, from $836 million last year. Revenue rose 7.1 percent to $3.41 billion, beating analysts' average estimate of $3.32 billion.