TXN
Texas Instruments Incorporated

Texas Instruments IncorporatedTXN

Technology · Semiconductors
277.36USD
-0.28%
Nov 08, 2026
TXN overview ready
Vertically Integrated Analog and Embedded Semiconductor Manufacturer Expanding U.S. Capacity
Vertically integrated manufacturer of analog and embedded semiconductors with expanding U.S.
Primary theme is lagging
Analog Semiconductors is lagging (-10.8pp vs SPY over 21 sessions; 3 of 10 members ahead of SPY).
Constructive pullback in an uptrend
Longer-term context reads established trend, with a near-term setup of constructive pullback.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Supply chain disruptions impacting manufacturing.
Market Nov 6Filing Sep 30Price action Nov 7Research Jul 29

Conviction Level

PriceAction8.0BusinessPerformance9.0BusinessQuality8.1Valuation2.1ThemeMomentum1.0Accelerating — Revenue growth has accelerated across 4 consecutive quarters, rising from +10% to +28% year over year. Diluted EPS growth has strengthened to +77% year over year ($2.62), up from -2.3%. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−10.8pp
Theme return
−15.8%
Beating SPY
3 of 10
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads established trend, with a near-term setup of constructive pullback.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$253.4B
Avg Volume (60D)
7.2M
60 sessions
Revenue Growth YoY
+13.0%
FY2025 vs FY2024
Gross Margin
+60.2%
Trailing twelve months
Operating Margin
+40.8%
Trailing twelve months
Free Cash Flow Yield
+2.9%
Distance from 200DMA
+6.8%
Next Earnings
2027-01-26
P/E
35.6x
EV / Sales
12.5x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 4 consecutive quarters, rising from +10% to +28% year over year. Diluted EPS growth has strengthened to +77% year over year ($2.62), up from -2.3%.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+28%
$6.05B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +10%
  2. +19%
  3. +23%
  4. +28%
Earnings growthAccelerating
+77%
Diluted EPS $2.62 vs $1.48 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. -2.3%
  2. +31%
  3. +52%
  4. +77%
Operating marginExpanding
47.5%
+12.4 pp YoY · gross margin 64.2% (+6.8 pp)

Business Quality

8.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
Texas Instruments Incorporated has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command.

Company Research

Thesis
Vertically integrated manufacturer of analog and embedded semiconductors with expanding U.S. 300mm wafer fabrication capacity. TXN genuinely fits Semiconductor Supply Chain Localization, but not the currently listed Domestic Fab Equipment and Specialty Processes theme: TI buys and uses process equipment rather than supplying it.
Opportunity
Moderate opportunity
U.S.-based expansion of mature-node, high-volume analog and embedded-chip wafer capacity to improve supply resilience for industrial, automotive, communications and other foundational electronics markets.
Key risk
Supply chain disruptions impacting manufacturing.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

Texas Instruments designs, manufactures, and sells analog and embedded semiconductor products globally, operating through its Analog and Embedded Processing segments.

How it earns

Generates revenue primarily through transactional sales of semiconductor components to electronics designers and manufacturers.

Products & services
Analog semiconductors
Embedded processors
Power management products
Voltage regulators
DC/DC switching regulators
Customers & end markets
Industrial electronics manufacturers
Automotive electronics manufacturers
Communications equipment makers
Consumer electronics designers
Market position

Leader in analog and embedded semiconductor markets with vertically integrated manufacturing capabilities.

Demand drivers
Medium cyclicality

Semiconductor demand is influenced by industrial and automotive cycles as well as broader technology spending trends.