Texas Instruments' Q1 data don't make me want to buy the stock

Texas Instruments (NYSE: TXN) reported Q1 numbers Monday after the bell, and I have to say that the report was OK in a relative sense -- nothing in it compelled me to want to do much of anything about the stock. The stock was off a little less than 2% in after-hours trading.

What drove the stock lower? Revenues didn't jump too high, rising 3% to $3.3 billion. Earnings per share, however, did rise by a pretty respectable amount -- they increased 40% to $0.49 per diluted share. It should be noted, though, that this figure included a $0.06 per share tax benefit.

In terms of expectations, Texas Instruments merely met them, according to Briefing.com, plus the company's outlook for the second quarter wasn't particularly robust -- the press release indicates a cautious tone in terms of its guidance on the part of management. Apparently, Texas Instruments believes the soft economy might keep growth potential firmly in check. Taken together, these stats seemed to have added up to a lower stock price. There were, however, some positive things to note in terms of the margins -- the gross and operating margins were up on a year-over-year basis.

Texas Instruments, which competes with Qualcomm (NASDAQ: QCOM), may not have really bombed with its Q1 report, but again, I don't think there's any reason for me to buy or short the company's stock. I think there are better ideas out there in the tech sector; I continue, for instance, to find Microsoft (NASDAQ: MSFT) a stock worth some due diligence.

Disclosure: I don't own shares in any of the companies mentioned; positions can change at any time.