TXN vs VICR: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: TXN is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. TXN and VICR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined TXN and VICR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Texas Instruments (TI) is one of the largest analog semiconductor companies in the world. The vast majority of TI's revenue comes from analog and embedded processing chips: signal-chain semiconductors (op-amps, ADCs, DACs), power management ICs, and small microcontrollers. These are unglamorous compared to GPUs but are essential to nearly every electronic system: industrial equipment, automotive (a major end market), communications infrastructure, and consumer electronics.

Full TXN guide

Vicor Corporation designs, manufactures, and sells modular power components and complete power systems that convert electrical power efficiently for electronic devices. Headquartered in Andover, Massachusetts, it builds converters, power modules, and integrated circuits using patented high-frequency switching and its Factorized Power Architecture, which lets its parts be smaller and more efficient than conventional alternatives. Its products go into high-performance computing and AI accelerators, data centers, aerospace and defense, industrial equipment, and automotive, with recent focus on delivering the last inch of power to power-hungry AI chips through products like its NBM bus converters and vertical power delivery (VPD) modules.

Full VICR guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• TXN drivers: US-domestic manufacturing capacity expansion; Automotive and industrial as core growth markets.
• VICR drivers: AI data-center power demand; Vertical fabrication ramp and margins.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The massive US fab expansion compresses margins near-term and creates execution risk if demand doesn't materialize as expected. For VICR, vicor faces intense competition from far larger power-semiconductor companies, including Monolithic Power Systems, Texas Instruments, Analog Devices, Infineon, Renesas, and Delta Electronics, and it notably lost socket share on some Nvidia GPU platforms to lower-cost integrated rivals.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick TXN if you believe its drivers more; VICR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the TXN and VICR guides.

TXN. TI's premium valuation reflects the quality of the analog business (sticky designs, long product lifecycles, high margins) and the dividend growth track record. The multiple is pressured near-term by the fab capex; longer-term it normalizes as new capacity comes online.

VICR. Full-year 2025 total revenue reached about $452.7 million, but that includes a roughly $45 million one-time patent-litigation settlement, so the cleaner operating figure is product revenue near $350.3 million plus about $57.4 million of royalties. Cash and equivalents stood near $402.8 million with no meaningful debt. The stock re-rated sharply higher on the AI power theme, pushing its earnings multiple well above semiconductor-sector averages.

Headline figures (approximate, early 2026): TXN shows revenue (ttm) ~$17 billion (recovering from 2023-2024 trough), operating margin ~38% (compressed by fab capex), net income (ttm) ~$5 billion, eps (ttm) ~$5.50; VICR shows total revenue (fy2025) ~$452.7 million (incl. ~$45M patent settlement), product revenue (fy2025) ~$350.3 million (up ~12%), net income (fy2025) ~$118.6 million, diluted eps (fy2025) ~$2.61.

TXN and VICR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined TXN and VICR exposure against your real portfolio. It is not an investment adviser.