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 numbers have turned with the cycle. Revenue fell from about $20.0 billion in 2022 to about $15.6 billion in 2024, recovered to about $17.7 billion in 2025, and reached about $19.5 billion over the twelve months to June 2026. Quarterly revenue rose from about $4.42 billion in the December 2025 quarter to about $5.46 billion in the June 2026 quarter, and EPS of $2.14 in that quarter beat the $1.94 consensus. TI reports its September quarter on October 21, 2026, with consensus at about $2.42 of EPS on $5.91 billion of revenue.

The massive US fab expansion compresses margins near-term and creates execution risk if demand doesn't materialize as expected; free cash flow of about $3.55 billion trails a dividend of about $6.08 per share, and debt has risen to about $14 billion. Cyclical end markets (industrial, automotive) can swing meaningfully. After a 60% one-year gain the valuation is no longer cyclical-trough cheap: about 43x trailing and 26x forward earnings and about 13x sales. The stock is down about 3.5% over three months from a 52-week high near $334, and expectations for the October 21 report (about 54% EPS growth year over year) leave little room for a soft outlook.

31 analysts publish price targets on TXN, averaging $324.71 against a $276.48 price as of October 2026, or +17.4%. The published targets run from $225.00 to $400.00, a moderate spread, and the ratings split 19 buy, 15 hold, 2 sell. Over the last six months there have been 10 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; free cash flow of about $3.55 billion trails a dividend of about $6.08 per share, and debt has risen to about $14 billion. 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.

No. Texas Instruments Incorporated (TXN) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

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): ~$19.5 billion (+~23% YoY in Q2 2026)
• Operating margin: ~43%
• Net income (TTM): ~$6.0 billion
• EPS (TTM / 2027 est.): ~$6.57 / ~$10.18
• P/E (trailing / forward): ~43x / ~26x
• Dividend yield: ~2.2% (~$6.08 annual rate)
• Free cash flow (TTM): ~$3.55 billion (capex-heavy)
• Market cap: ~$257 billion

TI's premium valuation reflects the quality of the analog business (sticky designs, long product lifecycles, high margins), the dividend growth track record, and now a strong cyclical recovery. Trailing earnings still include the weak 2025 quarters, so the ~43x trailing multiple overstates how expensive the stock is against the ~26x forward figure. Fab spending continues to hold free cash flow well below net income until the new capacity is absorbed.

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, SCHD, QLTY), 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. After a 58% gain in 2026 it trades near 26x forward earnings with a ~2.2% yield (October 2026), so the cyclical recovery is now largely in the price; third-quarter results on October 21, 2026 are the next test.

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.