Texas Instruments Incorporated (TXN) Stock Price & How to Invest

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.

TI operates its own manufacturing capacity, which is unusual for a designer of this scale. The company is investing tens of billions in new US wafer fabs in Texas and Utah, partially supported by CHIPS Act funding. Founded in 1930, headquartered in Dallas, Texas. Haviv Ilan has been CEO since 2024.

The massive US fab expansion compresses margins near-term and creates execution risk if demand doesn't materialize as expected. Cyclical end markets (industrial, automotive) can swing meaningfully.

31 analysts publish price targets on TXN, averaging $321.16 against a $270.75 price as of July 2026, or +18.6%. The published targets run from $225.00 to $400.00, a moderate spread, and the ratings split 17 buy, 17 hold, 2 sell. Over the last six months there have been 11 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full TXN forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Texas Instruments Incorporated. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. US-domestic manufacturing capacity expansion. TI is in the middle of one of the largest US semiconductor fab buildouts in history (Sherman, Texas; Lehi, Utah). The most optimistic published target, $400.00, assumes this works close to its best case.

The case against. The massive US fab expansion compresses margins near-term and creates execution risk if demand doesn't materialize as expected. The most pessimistic target, $225.00, is roughly what TXN is worth if this bites instead.

Read the full bull and bear case on TXN, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Texas Instruments Incorporated's investor relations page or your broker.

• 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
• P/E (TTM): ~30x
• Price to sales: ~10x
• Dividend yield: ~3.0%, with long history of growth
• Free cash flow: ~$3 billion annually (capex-heavy)
• Capex: ~$5 billion annually for new fabs

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.

If you want TXN exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses TXN naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to TXN: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get TXN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (SMH, SOXX, SCHD), which spreads the position across many companies. Or build it into a focused thematic portfolio, so TXN sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where TXN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Texas Instruments (TXN) is a moaty analog franchise with long product lifecycles, a multi-decade dividend-growth record, and cyclical exposure to automotive and industrial demand. In a portfolio it behaves as a relatively defensive semiconductor and quality-income position, lower-beta than logic peers like NVIDIA or AMD, with capital return central to its total-return story.

Whether TXN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TXN a buy or a sell?, and where the stock could go from here in the TXN stock forecast.

For income investors, whether TXN pays a dividend and how the payout looks is covered in does TXN pay a dividend? And to weigh TXN against a peer, read the full side-by-side comparisons: TXN vs AVGO and TXN vs NVDA.