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Texas Instruments Inc. (NASDAQ: TXN) is set to release its second-quarter earnings report after the markets close on Monday. As one of the larger players in the tech sector ($66 billion cap), this company has been a huge beneficiary of the recent tech rally since the Brexit vote, not to mention over the course of 2016. These earnings have the potential to further push this rally.

The Thompson Reuters consensus estimates are c$0.73 in earnings per share (EPS) on $3.2 billion in revenue for the period. In the same quarter of last year, EPS were reported as $0.65, on revenue of $3.23 billion.

This global semiconductor design and manufacturing company develops analog integrated circuits and embedded processors. Texas Instruments generates 80% to 90% of its revenues from its analog and embedded processing businesses, which have well-diversified end-markets (autos, industrial, personal/consumer electronics), long product life cycles and limited capital intensity. The company has 6% market share of the auto chip market.

Numerous Wall Street pros see the stock as a core large cap holding, and they cite a solid, high-single-digit and very diverse revenue flow, solid capital allocation to lever the balance sheet if needed, and substantial room for margin expansion as the ramp up new facilities. The company boasts sustained impressive cash flow over the past several years and has impressively returned 100% or more of that back to shareholders via stock buybacks and dividends.

Given modest capital expenditure requirements coupled with room for margin expansion, Texas Instruments should be able to sustain double-digit free cash flow growth despite slower sales growth.

Prior to the release of the earnings report, analysts weighed in on this tech giant:

• Oppenheimer reiterated a Buy rating.
• Goldman Sachs reiterated a Sell rating with a $51 price target.
• Drexel Hamilton reiterated a Buy rating.
• Morgan Stanley reiterated a Hold rating.
• Credit Agricole initiated coverage with an Underperform rating and $60 target.
• B. Riley reiterated at Neutral.
• Sterne Agee CRT reiterated a Buy rating with a $66 price target.

So far in 2016, Texas Instruments has outperformed the broad markets, with the stock down 21%. Over the past 52 weeks, the stock is actually up over 30%.

Shares of Texas Instruments were trading flat at $65.50 after almost an hour of trading on Monday. The stock has a consensus analyst price target of $62.02 and a 52-week trading range of $43.49 to $65.68.