Company Reports

Texas Instruments reported second-quarter revenue of $5.46 billion, up 23% year over year and above the midpoint of guidance of $5.20 billion. TI expects third-quarter revenue to be $5.80 billion, up 22% year over year and ahead of FactSet consensus estimates of $5.63 billion.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, data centers, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

We raise our fair value estimate for wide-moat Texas Instruments to $310 from $260 as we review our postearnings valuation. We think TI’s rising in-house manufacturing capacity will emerge as a near and medium term strategic asset as broad-based chip manufacturing becomes constrained.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, data centers, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, data centers, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Texas Instruments reported first-quarter revenue of $4.8 billion, up 19% year over year and above the high end of guidance. TI guided second-quarter revenue of $5.2 billion, which would represent 17% year-over-year growth, well ahead of the $4.87 billion FactSet consensus estimate.

Texas Instruments held its annual capital management call for investors. Key updates to the firm's financial targets included reducing 2026 capital expenditures to $2 billion-$3 billion and raising its days of inventory target to 150-250 days, up from 130-200 days.

Texas Instruments announced the all-cash acquisition of Silicon Labs for $7.5 billion or $231 per share, a 69% premium to Silicon Labs’ share price. The deal is expected to close in the first half of 2027, and TI anticipates $450 million in cost synergies within three years of closing.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, data centers, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Texas Instruments reported fourth-quarter revenue of $4.4 billion, down 7% sequentially but up 10% year over year and at the midpoint of guidance. TI’s first-quarter guidance calls for revenue of $4.5 billion at the midpoint, up 11% year over year and ahead of FactSet consensus estimates.

We met with executives at Microchip, Texas Instruments, and STMicro at CES 2026 in Las Vegas. Our conversations centered around artificial intelligence, robotics (including humanoids), and automotive chip opportunities.

Texas Instruments’ third-quarter revenue was $4.74 billion, up 14% year over year, up 7% sequentially, and toward the high end of guidance. However, the midpoint of fourth-quarter revenue guidance of $4.40 billion was below FactSet consensus estimates of $4.51 billion.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Texas Instruments’ second-quarter revenue was $4.45 billion, up 9% sequentially and up 16% year over year. TI’s third-quarter forecast calls for revenue to rise 0%-8% sequentially and grow 11% year over year at the midpoint.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial devices, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Texas Instruments' first-quarter revenue grew 11% year over year and was above the high end of prior guidance. Second-quarter revenue is expected to rise 14% year over year to $4.35 billion at the midpoint of guidance and ahead of FactSet's consensus estimate of $4.10 billion.

We maintain our $185 fair value estimate for wide-moat Texas Instruments on the heels of the company’s annual Capital Management call. We were not particularly surprised with any of TI’s estimates or commentary, especially since the firm held a similar, off-cycle call in August. TI didn’t update its near-term guidance from a couple of weeks ago, and no news is good news in our opinion, as tariffs and other factors are contributing to an uncertain macroeconomic landscape. Shares appear fairly valued to us.

Texas Instruments is the world's largest analog chipmaker and a key supplier of analog and embedded chips into a wide range of applications, such as cars, industrial equipment, and personal electronics. We’re encouraged by TI’s relentless focus on higher-margin semiconductors, and when combined with smart operational moves on the manufacturing front, we foresee robust free cash flow generation in the years ahead.

Wide-moat Texas Instruments reported solid fourth-quarter results and provided investors with a decent revenue outlook for the March quarter, but a disappointing EPS forecast as the company anticipates gross margin deterioration due to underutilized factories. We raise our fair value estimate to $185 per share from $175, mostly due to the time value of money, offset by a modest reduction to our long-term revenue and profitability assumptions. We view the soft gross margin guidance as a bit of a near-term reckoning after several quarters of inventory buildups, but it doesn’t alter our long-term expectations. We view TI’s shares as fairly valued.

We attended Texas Instruments’ product demonstrations at CES 2025 and remain pleased with the company’s product breadth and depth not only in general-purpose, or catalog, parts but also in application-specific devices. We maintain our wide moat rating and $175 fair value estimate. The shares still appear a bit rich for us, but TI remains a best-in-breed analog/mixed-signal chipmaker that warrants at least a modest premium to its peer group.