The company posted fourth-quarter revenue of $3.27 billion, up 8 percent from the year-ago period and slightly above what the cocaine nose jobs of Wall Street predicted by reading their tarot cards.

This was mostly because TI deepened its focus on analogue and embedded chips which are in demand from carmakers, telecom companies and industrial customers.

Revenue from Texas Instruments' largest market, "industrial," grew a bit in 2014, while revenue from its communications market expanded as wireless carriers installed next-generation base stations.

TI has been winding down its unprofitable wireless business and refocusing on analogue and embedded chips. Factories that Texas Instruments bought at relatively attractive prices in recent years and the chipmaker's robust sales force give it an advantage over smaller competitors.

The company's fourth-quarter net income rose 61 percent to $825 million. Earnings per share were 76 cents.

Texas Instruments forecast first-quarter revenue of between $3.07 billion and $3.33 billion.

Analysts on average had expected revenue of $3.26 billion for the fourth quarter and $3.19 billion for the first quarter.