What smart money is saying about Texas Instruments Inc.
TXN · Technology · Semiconductors · Market cap $161.30B
2 funds in our archive have pitched Texas Instruments Inc. — most recently LRT Capital Management in June 2025.
Company profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage supervisors, voltage references, and lighting products. This segment also provides signal chain products that sense, condition, and measure signals to allow information to be transferred or converted for further processing and control for use in end markets, including amplifiers, data converters, interface products, motor drives, clocks, and sensing products. The Embedded Processing segment offers microcontrollers that are used in electronic equipment; digital signal processors for mathematical computations; and applications processors for specific computing activity. This segment offers products for use in various markets, such as industrial, automotive, personal electronics, communications equipment, enterprise systems, and calculators and other. The company also provides DLP products primarily for use in projectors to create high-definition images; calculators; and application-specific integrated circuits. It markets and sells its semiconductor products through direct sales and distributors, as well as through its website. Texas Instruments Incorporated was founded in 1930 and is headquartered in Dallas, Texas.
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26
Reported positions
5
Bought
7
Sold
35
Letters
Position history
Between Q1 2025 and Q3 2026, 26 fund letters reported a position in Texas Instruments Inc. — 5 opened or added to the position, 7 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 0 | 1 | 0 |
| Q2 2026 | 22 | 5 | 6 | 0 |
| Q4 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 0 | 0 | 0 | 1 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Fund activity · 26 positions · 12 moves
- ExitedACATIS Investment ReportJuly 2026
“Hence we sold.”
Texas Instruments Inc. - July 2026
“Semiconductor firm Texas Instruments (+54.3% USD) also had notably strong performance.”
Texas Instruments Inc. - July 2026
“This quarter, we share highlights from our recent webinar, ‘Stewardship in a Shifting World.’ We cover three themes from the session: how we think about engagement, the progress captured in our 2025 Stewardship Report and how we are navigating a challenging political backdrop. ENGAGEMENT AS THE ROUTE TO IMPACT We set out how we think about engagement in public markets at Generation. Investing in quality, sustainable companies is not the same as saying they are the finished article – no business is. The purpose of our engagement is to help, support and encourage the companies in which we invest to become more sustainable and better run, thereby creating value for our clients. We also explained how stewardship works in practice. It is always a partnership between the analyst who covers the company and our engagement function. The analyst knows the company best and has the ear of management, so engagement is most powerful when performed by them as a core part of the investment process. Our engagement team provides the frameworks that keep this work consistent and systematic, supports analysts in execution and keeps us connected to peer investors and collaborative initiatives. HIGHLIGHTS FROM OUR 2025 STEWARDSHIP REPORT We also shared the headlines from our 2025 Stewardship Report. Our Global Equity Focus List currently comprises 106 companies and the portfolio 31. In 2025 we met with Focus List companies 463 times, and 88 of these meetings included engagement, where we asked for improvement in company practice. We run three structured engagement programmes, on climate, deforestation, and equity, diversity and inclusion (EDI), alongside company-specific work on issues from governance at Charles Schwab to PFAS usage at West Pharmaceutical Services. Climate: our largest engagement programme Climate change remains our most important engagement programme, as we work towards net- zero portfolio emissions by 2040. We take companies through a range of expectations, from emissions disclosure and TCFD/ISSB reporting to participation in the Science Based Targets initiative (SBTi) and, ultimately, alignment with our 2040 net- zero goal. SBTi sits at the heart of this framework because validated targets show a company has assessed its full climate impact, can demonstrate near-term abatement and has followed a transition methodology comparable with its peers. Climate featured in 34 Global Equity engagement meetings in 2025, and we voted against the Chair or another Non-Executive Director on climate grounds at six portfolio companies. With engagement like this, we are making real progress. 71% of the Focus List is now at the top two levels of our framework, up from a minority in 2020, while SBT coverage across the firm’s assets reached 64%, ahead of our 60% target. 28% 34% 11% 22% 5%7% 20% 4% 50% 21% LEVEL 0 No climate disclosure or action LEVEL 1 Minimum standard climate disclosure LEVEL 2 Desired climate disclosure LEVEL 3 Minimum standard of climate action LEVEL 4 Desired standard of climate action PROPORTION OF GLOBAL EQUITY FOCUS LIST AT EACH LEVEL OF GENERATION'S CLIMATE CHANGE FRAMEWORK 2020 2025 16 Texas Instruments: a five-year engagement Texas Instruments (TI) illustrates what engagement can achieve.”
Texas Instruments Inc. - New positionClearBridge Investments Appreciation StrategyJune 2026
“Portfolio Highlights The ClearBridge Appreciation Strategy underperformed the benchmark S&P 500 Index in the second quarter of 2026. On an absolute basis, the Strategy had positive contributions from eight of 11 sectors. The IT sector was the main positive contributor, while energy was the main detractor. In relative terms, stock selection and sector allocation detracted. Stock selection in IT, industrials, communication services, financials and consumer discretionary, overweights to materials and energy and an IT underweight detracted the most. Conversely, stock selection in materials and a consumer discretionary underweight were beneficial. On an individual stock basis, the biggest relative contributors during the quarter were ASML, Palo Alto Networks, ASM International, an underweight to Microsoft and not owning Palantir. The biggest detractors were Netflix, underweights to Micron Technology and Advanced Micro Devices, and not owning Intel and Applied Materials. During the quarter, we initiated new positions in SpaceX in communication services, Micron Technology, Cisco Systems, Advanced Micro Devices and Texas Instruments in IT and Diamondback Energy in energy.”
Texas Instruments Inc. - June 2026
Listed in Guinness Global Equity Income Fund’s reported holdings.
Texas Instruments Inc. - June 2026
“Top 3 Contributors to Relative Performance Entegris, Inc. (ENTG) – ENTG was a top contributor, benefiting from improving fab utilization and accelerating AI-driven semiconductor demand. It continues to gain share as advanced node transitions increase materials intensity per wafer. Looking ahead, fundamentals are improving with higher wafer starts, near-full utilization, and multiple growth drivers across advanced logic and memory. With its investment cycle largely complete and free cash flow expected to improve, we remain attracted to its strong competitive positioning and high barriers to entry. Texas Instruments Incorporated (TXN) – TXN outperformed as improving industrial demand and accelerating AI infrastructure investment drove stronger results.”
Texas Instruments Inc. - TrimmedFindlay Park American FundJune 2026
“The position was trimmed after a significant share price move and valuation expansion.”
Texas Instruments Inc. - June 2026
“Portfolio Positioning We currently have about 9% of the portfolio in semiconductor-related stocks. We believe this gives us enough exposure to benefit from the wonderful growth that chip stocks enjoy without overly exposing the portfolio to a highly volatile sector currently trading at cyclical highs. During the quarter we initiated a meaningful position in Nvidia, after the company announced a 25-fold increase in its dividend, taking its yield from almost zero to 0.5%. We also increased our exposure to Taiwan Semiconductor, which, as the largest producer of computer chips in the world, should prosper regardless of whose chips are used for AI computing. We funded these purchases, in part, through pruning Broadcom and Texas Instruments, both of whose stocks soared during the quarter and were strong contributors.”
Texas Instruments Inc. - June 2026
Listed in Heartland Advisors Opportunistic Value Equity Strategy’s reported holdings.
Texas Instruments Inc. - June 2026
“Our top five contributors to return in Q2 were Texas Instruments, NXP Semiconductors, Lamar Advertising, nVent Electric and Masco.”
Texas Instruments Inc. - HoldsAve Maria FundsJune 2026
Listed in Ave Maria Funds’s reported holdings.
Texas Instruments Inc. - June 2026
Listed in Gabelli Funds Shareholder Commentary: Open-End Funds’s reported holdings.
Texas Instruments Inc. - HoldsHamlin Capital Management Equity and High Yield Municipal Bond StrategiesJune 2026
“Cummins, Texas Instruments, and Morgan Stanley led the portfolio in the second quarter, gaining 37.25% on average.5 Cummins continues to benefit from strong demand for its backup power solutions used in data centers in both the U.S. and international markets, specifically China. The company held an investor day in May where management announced they will expand beyond backup power into prime power, and shortly thereafter announced a multi-year agreement to supply prime power to a large data center campus in West Texas. Cummins is also seeing improvement in truck engine orders as demand is inflecting in its core North American engine business. Texas Instruments delivered first quarter results that were above expectations and guided to above- seasonal growth in the coming quarter, fueled by accelerating demand in the industrial and data center sectors.”
Texas Instruments Inc. - June 2026
Listed in Gabelli Funds Open-End Funds’s reported holdings.
Texas Instruments Inc. - New positionLiontrust Global Technology FundJune 2026
Listed in Liontrust Global Technology Fund’s reported holdings.
Texas Instruments Inc. - New positionLiontrust Global Innovation FundJune 2026
Listed in Liontrust Global Innovation Fund’s reported holdings.
Texas Instruments Inc. - June 2026
“After a 53% quarter we trimmed by roughly a quarter; TI remains a core holding, one that has raised its dividend for 22 consecutive years.”
Texas Instruments Inc. - New positionLiontrust GF Global Technology FundJune 2026
Listed in Liontrust GF Global Technology Fund’s reported holdings.
Texas Instruments Inc. - New positionLiontrust GF Global Innovation FundJune 2026
Listed in Liontrust GF Global Innovation Fund’s reported holdings.
Texas Instruments Inc. - June 2026
“Texas Instruments (+53%) spent two years in the wilderness while the market debated inventory cycles. We bought it at the start of this year; on 22 April the debate ended. Revenue grew 19% with EPS up 31%, 22% above consensus, on a data centre business up 90% year on year and the broadest industrial recovery the company has seen in years. Every Nvidia rack, hyperscaler data centre and robotics platform is full of analog content, and TI is the global leader in a market with few credible alternatives at scale. After a 53% quarter we trimmed by roughly a quarter; TI remains a core holding, one that has raised its dividend for 22 consecutive years.”
Texas Instruments Inc. - June 2026
“Other top contributors included Texas Instruments and FedEx.”
Texas Instruments Inc. - June 2026
“Within technology, our software exposure was a significant detractor, as uncertainty around the impact of AI continues to weigh on the industry. While this remains a risk we are monitoring closely, we still believe investors are underestimating the stickiness of Salesforce and Adobe products among enterprise customers, and that current valuations embed too much pessimism about their future prospects. However, we have become more concerned with the slowdown of Wix.com’s core business and ultimately eliminated the position. Outside of technology, there were several bright spots in the portfolio, and we benefited from the flexibility afforded by Select’s broad investable universe. Several of our strongest contributors— including four of the top five—came from businesses lower down the market-cap spectrum, particularly within industrials and consumer discretionary, demonstrating the value of investing across our full opportunity set. Key contributors • Cimpress, a technology-enabled mass-customization company that makes personalized print and promotional products for small businesses, delivered solid quarterly results reflecting continued execution against its longer-term financial goals. • Semiconductor and processor producer Texas Instruments saw shares rise after issuing 2Q26 guidance above market expectations, signaling improving demand trends, particularly in industrial and data center end markets. Market and portfolio review Broad US equity markets posted strong performance in the quarter with the Russell 3000 Index returning 15.44%. AI, and the hundreds of billions of dollars being invested to support its adoption, remained the most notable theme in equity markets during 2Q26. Outside of AI, robust corporate earnings and easing geopolitical tensions provided support for equities more broadly, particularly down the market cap spectrum where the Russell 2000 Index returned 21.49%. Unsurprisingly, technology (+33%) was once again the strongest- performing sector, driven primarily by semiconductor, memory and electrical equipment companies. Other top sectors included industrials (+16%) followed by health care (+10%). Energy lagged (-13%) as oil prices retreated following expectations that geopolitical tensions would not materially disrupt global supply. Our relative underperformance was largely driven by technology— both the companies we own and those we do not. The cohort of businesses benefiting from AI-related capital spending, such as Micron, Sandisk, Western Digital and many others, continued to produce extraordinary returns, creating a meaningful headwind for portfolios with limited exposure to these areas. While we maintain selective exposure through businesses such as Texas Instruments, we continue to have little exposure to many of the semiconductor and memory companies that have driven benchmark returns as of late.”
Texas Instruments Inc. - June 2026
“Similar to recent quarters, the Fund’s technology exposure— companies we do not own, and to a lesser extent, companies we do own—continued to be the most notable detractor from relative performance. However, the magnitude was even greater with the sector driving nearly all the Fund’s underperformance in 2Q26. Not having exposure to a wide range of technology companies benefiting from AI-related capital expenditures, such as Micron, Sandisk, Western Digital and many others, was a very meaningful headwind to relative performance. Our lack of exposure to Micron alone was responsible for approximately 25% of the Fund’s 2Q26 underperformance due to its large weight in the index and enormous return. Texas Instruments provided a modest offset to this headwind, as it is finally seeing a rebound in”
Texas Instruments Inc. - June 2026
“Other material trims included Alphabet, Berkshire Hathaway, CoStar Group, Perimeter Solutions and Texas Instruments.”
Texas Instruments Inc. - June 2026
“We trimmed the Fund’s holdings of Analog Devices, Texas Instruments, and Alphabet at substantial gains to help manage position sizes after significant rallies in their stocks.”
Texas Instruments Inc. - HoldsClipper FundDecember 2025
“Within the AI world, we also focus on the companies that make the picks and shovels. One example in our portfolio is Applied Materials— it makes the equipment that makes the chips. Another is Texas Instruments, not a household name but on the leading edge of tech innovation as it manufactures the essential nuts and bolts of the systems being created to move us into this brave new world.”
Texas Instruments Inc.
Also mentioned · 7
These funds discuss Texas Instruments Inc. — as a competitor, benchmark or comparable — without disclosing a position in it.
- June 2026
“Silergy is a leading manufacturer of power management integrated circuits (PMICs), components that ensure sensitive semiconductor chips in electronic devices receive stable and reliable power. The company’s low-cost modular designs and responsive customer service have helped it steadily gain market share from incumbent global competitors in increasingly sophisticated end markets, including industrials, electric vehicles, and now data centers. We previously owned the company but sold in mid-2023 when key competitor Texas Instruments announced plans to increase its PMIC manufacturing capacity by a whopping 40%.”
Texas Instruments Inc. - June 2026
“Our top five contributors to return in Q2 were Texas Instruments, Lam Research, NXP Semiconductors, Elevance Health and Alphabet.”
Texas Instruments Inc. - MentionedLatitude Global FundJune 2026
“We have owned Micron and Texas Instruments in the past, so are not against the idea that such cyclical companies can generate strong returns, but the starting point matters.”
Texas Instruments Inc. - MentionedGuinness Global Quality Mid Cap FundJune 2026
“Monolithic Power Systems: charging ahead of Texas Instruments in power management. Texas Instruments, credited with inventing the integrated circuit, is a global semiconductor leader and the dominant supplier of analogue chips – devices that convert real-world signals such as sound, temperature or power into digital data. These chips are essential in automotive, industrial and data centre applications, and their importance continues to rise as the need to sense, manage and digitise data expands. Where Texas Instruments offers breadth across the analogue market, Monolithic Power Systems (MPS) offers a more focused play on the fastest-growing corner: power management for AI servers, EV powertrains and advanced industrial systems.”
Texas Instruments Inc. - June 2026
“Rohm also continues to explore strategic partnership opportunities with Toshiba’s power semiconductor business and Mitsubishi Electric, which would create a Japanese national champion in semiconductors with the scale to compete globally against mega-caps, such as Infineon, STMicroelectronics and Texas Instruments.”
Texas Instruments Inc. - June 2026
“Key contributors • Semiconductor and processor producer Texas Instruments saw shares rise after issuing 2Q26 guidance above market expectations, signaling improving demand trends, particularly in industrial and data center end markets.”
Texas Instruments Inc. - MentionedBuffalo Small Cap Growth FundMarch 2026
“The largest positive contributor to the fund’s performance in the first quarter was Silicon Laboratories (SLAB), a fabless semiconductor company that focuses on low power wireless system on chips, microcontrollers, and software for Internet of Things devices. During the quarter, Texas Instruments announced its intention to acquire the company for $231 per share in cash, representing a 69% premium to the previous day’s closing price, implying a valuation of approximately 56 times consensus 2027 earnings.”
Texas Instruments Inc.
Fund coverage · 2 theses
- LRT Capital ManagementJune 2025
Texas Instruments Inc. is a leading semiconductor company focusing on analog and embedded processing chips, known for its strong integration into industrial and automotive sectors, internal manufacturing capabilities, and disciplined capital allocation strategy aimed at maximizing long-term shareholder value.
Read the full thesis - TCW Relative Value Large Cap FundMarch 2025
Texas Instruments is a major semiconductor manufacturer with a strong ESG score and potential for growth under new leadership and product expansion.
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