Texas Instruments posted a powerful 21% weekly rally following its April 22 earnings release, lifting the stock to $277.14. Analysts scrambled to chase the move — ten firms raised targets the very next day, pushing the mean to $271, still below the closing price. Short interest fell 9% over the month to just 2% of float.
TXN closed at $277.14 on April 24, down 1.8% on the day but up 21% for the week. The monthly gain reached 42%. The stock now trades above the revised analyst consensus target, a rare spot for a semiconductor name coming out of a cyclical trough.
Short interest stood at 18.14 million shares as of April 23, representing 2.0% of float. That marks a 9.4% decline over the past month. The shares-short count dropped sharply on April 9, falling from over 20 million to 18.1 million in a single session — the lowest level since late March. Cost to borrow held at 0.52%, down modestly week-over-week but up 5.8% over the month. Utilisation ticked to 1.22%, well off the 52-week high of 2.24%. Borrowing remains cheap and available.
Put/call ratio settled at 0.89 on April 24. That sits 2.1 standard deviations above the 20-day mean of 0.80, signaling elevated protective demand. The PCR spiked from the mid-0.70s in mid-April to current levels, a sharp move coinciding with the post-earnings surge. The 52-week range runs from 0.47 to 1.22.
Consensus holds at hold with 14 buy, 19 hold, and 0 underperform ratings. The mean price target stands at $271.34, implying -2% downside from the April 24 close.
Ten analysts raised targets on April 23, the day after earnings. TD Cowen's Joshua Buchalter lifted his target from $250 to $300, maintaining buy. Evercore ISI's Mark Lipacis went to $316 from $270, also maintaining outperform — the highest new target in the flurry. UBS analyst Timothy Arcuri raised to $295 from $260, buy rating unchanged. JP Morgan's Harlan Sur moved to $280 from $227, keeping overweight. Citigroup's Christopher Danely matched that $280 target, up from $235.
Not all were enthusiastic. Jefferies' Blayne Curtis raised his hold-rated target to $260 from $210. Truist's William Stein went to $278 from $225, also maintaining hold.
Bulls point to 70% year-over-year growth in TXN's new Data Center segment in Q4 2025. Industrial and Automotive segments are projected to hit 33% of revenue by 2025. Operating cash flow reached $7.2 billion with free cash flow of $2.9 billion, up 96% year-over-year. Bears note revised depreciation guidance down to $2.2–$2.4 billion from $2.3–$2.7 billion, suggesting caution on capex. Personal Electronics revenue, 21% of total, faces headwinds from ended Chinese subsidies. Market share losses in Analog and Embedded Processing — 90% of revenue — raise concern about the pace of recovery.
Price-to-earnings multiple hit 34.6x, up 5.7 points over the month. Price-to-book reached 14.0x, up 3.0 points in 30 days. EV/EBITDA stood at 23.8x, up modestly.
Factor scores show strength in analyst sentiment: analyst recommendation differential ranks 100th percentile. Dividend score sits at the 97th percentile. EPS momentum 30-day ranks 92nd percentile, with 90-day momentum at 81st. Sector score ranks 84th. Short score sits at 66th percentile, utilisation at 71st.
BlackRock added 2.1 million shares as of March 31, lifting its stake to 79.0 million shares (8.7% of shares outstanding). Charles Schwab Investment Management added 1.6 million shares to 24.3 million. Invesco added 2.8 million shares, now holding 11.3 million. Van Eck Associates added 2.5 million shares to 11.6 million. The passive giants — Vanguard, State Street — made only modest adjustments.
Insiders were net sellers over the past 90 days, disposing of 163,513 shares for aggregate proceeds of $35.8 million. CFO Rafael Lizardi sold three separate blocks in February totaling 71,628 shares for $15.9 million. Senior Vice President Mark Gary sold 23,169 shares across two transactions for $5.2 million. The selling occurred while the stock traded in the $220–$231 range, well below current levels.
TXN reported earnings on April 22 at 8:00 PM ET. Prior earnings dates cluster in April, with announcements on April 22 and April 16. The snapshot does not include post-earnings price reactions for this or prior events.
Next earnings release is scheduled for July 20, 2026 at 8:00 PM ET. Dividend history shows a $1.15 quarterly payment last declared in July 2022, data now 1,374 days stale. With the stock trading above the analyst consensus target and multiple holds in the mix, watch whether firms revise estimates higher as the quarter progresses or whether the rally stalls out near current levels.
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