Texas Instruments (TXN) designs and manufactures semiconductors, which are sold to electronics designers and manufacturers globally. The company operates primarily through two reportable segments: Analog and Embedded Processing, with additional activities reported under "Other" . Texas Instruments focuses on industrial and automotive markets, which together represented about 75% of its revenue in 2023 .
- Analog - Designs and produces semiconductors used to manage power and convert real-world signals into digital data, including Power and Signal Chain product lines.
- Power - Manages power in electronic devices.
- Signal Chain - Converts real-world signals into digital data.
- Embedded Processing - Develops microcontrollers, digital signal processors, and applications processors that serve as the digital "brains" of electronic equipment, particularly in industrial and automotive markets.
- Microcontrollers - Provides control functions in electronic devices.
- Digital Signal Processors - Processes digital signals for various applications.
- Applications Processors - Powers complex applications in electronic devices.
- Other - Includes DLP® products, calculators, and custom ASIC products.
- DLP® Products - Offers digital light processing technology.
- Calculators - Manufactures calculators for educational and professional use.
- Custom ASIC Products - Designs custom application-specific integrated circuits.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Haviv Ilan ExecutiveBoard | President and CEO | None | Haviv Ilan has been with TXN for over 20 years, serving in various senior roles, and became President and CEO in 2023. | View Report → |
Amichai Ron Executive | Senior Vice President | None | Amichai Ron is a Senior Vice President in the Embedded Processing division, involved in product development and collaborations. | |
Hagop H. Kozanian Executive | Senior Vice President | None | Hagop H. Kozanian has been with TXN for more than five years and became an executive officer in 2018. | |
Kyle M. Flessner Executive | Senior Vice President | None | Kyle M. Flessner announced his intention to retire effective April 1, 2024, and has been an executive officer since 2018. | |
Rafael R. Lizardi Executive | Senior Vice President and CFO | None | Rafael R. Lizardi is the CFO of TXN, certifying periodic reports, including the Annual Report for FY 2024. | |
Carrie S. Cox Board | Director | Director at Organon & Co. and Cartesian Therapeutics, Inc. | Carrie S. Cox has extensive experience in the pharmaceutical industry and serves on the boards of Organon & Co. and Cartesian Therapeutics, Inc. | |
Curtis C. Farmer Board | Director | Chairman, President, and CEO of Comerica Incorporated | Curtis C. Farmer joined the TXN board in 2023 and has a distinguished career at Comerica Incorporated. | |
Janet F. Clark Board | Director | Director at EOG Resources, Inc. and Resources for the Future | Janet F. Clark joined the TXN board in 2015, with a background in financial leadership roles in the energy sector. | |
Jean M. Hobby Board | Director | Director at Hewlett Packard Enterprise Company and Integer Holdings Corporation | Jean M. Hobby joined the TXN board in 2016, bringing expertise in audit, financial control, and strategic planning. | |
Mark A. Blinn Board | Director | Director at Emerson Electric Co., Globe Life Inc., and Leggett & Platt, Incorporated | Mark A. Blinn has been a director at TXN for 11 years, with extensive experience in leadership and financial roles. | |
Martin S. Craighead Board | Director | Director at Emerson Electric Co. | Martin S. Craighead was the former Chairman and CEO of Baker Hughes Inc. and currently serves as a director at Emerson Electric Co. | |
Pamela H. Patsley Board | Director | Director at Hilton Grand Vacations Inc., Keurig Dr Pepper Inc., and Payoneer Global Inc. | Pamela H. Patsley has held leadership roles in financial services and serves on the boards of Hilton Grand Vacations Inc., Keurig Dr Pepper Inc., and Payoneer Global Inc. | |
Reginald DesRoches Board | Director | Board Member at Brandywine Realty Trust | Reginald DesRoches is the President of Rice University and joined the TXN board in 2024. | |
Richard K. Templeton Board | Chairman of the Board | None | Richard K. Templeton has been with TXN for 28 years, serving as President and CEO until 2023, and has been Chairman since 2008. | |
Robert E. Sanchez Board | Director | Chairman and CEO of Ryder System, Inc. | Robert E. Sanchez is the Chairman and CEO of Ryder System, Inc. and joined the TXN board in 2024. | |
Ronald Kirk Board | Director | Senior of Counsel at Gibson, Dunn & Crutcher LLP; Director at Mister Car Wash, Inc. | Ronald Kirk is a former U.S. Trade Representative and serves as senior of counsel at Gibson, Dunn & Crutcher LLP, and as a director at Mister Car Wash, Inc. | |
Todd M. Bluedorn Board | Director | Director at Samsara Inc. | Todd M. Bluedorn served as Chairman and CEO of Lennox International Inc. and is currently a director at Samsara Inc. |
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With inventory levels reaching $4.3 billion and plans to further increase inventories despite moderating factory loadings, how do you intend to mitigate the risks of excess inventory amid cyclical uncertainty, and what impact might this have on your margins and cash flow?
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Embedded Processing revenue declined 27% year-over-year; can you elaborate on the specific strategies you're implementing to address this significant underperformance, and when do you anticipate seeing a turnaround in this segment?
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You've noted that while China has experienced strong sequential growth, other regions have not followed suit due to asynchronous market behaviors; what actions are you taking to stimulate demand recovery in non-Chinese markets, and when do you expect these markets to rebound?
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Considering that high inventory levels and low customer order visibility could lead to demand forecasting challenges, how are you managing production planning to prevent overproduction and potential inventory write-downs?
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Operating profit decreased by 18% compared to the same quarter last year, and net income similarly declined; what initiatives are in place to address these profitability concerns, and how do you plan to improve margins in light of declining revenues?
Research analysts who have asked questions during TEXAS INSTRUMENTS earnings calls.
Ross Seymore
Deutsche Bank
3 questions for TXN
Stacy Rasgon
Bernstein Research
3 questions for TXN
Thomas O’Malley
Barclays Capital
3 questions for TXN
Vivek Arya
Bank of America Corporation
3 questions for TXN
William Stein
Truist Securities
3 questions for TXN
Christopher Muse
Cantor Fitzgerald
2 questions for TXN
Harlan Sur
JPMorgan Chase & Co.
2 questions for TXN
Joseph Moore
Morgan Stanley
2 questions for TXN
Joshua Buchalter
TD Cowen
2 questions for TXN
Timothy Arcuri
UBS
2 questions for TXN
Tore Svanberg
Stifel Financial Corp.
2 questions for TXN
Chris Caso
Wolfe Research LLC
1 question for TXN
Christopher Caso
Wolfe Research
1 question for TXN
Christopher Danely
Citigroup Inc.
1 question for TXN
CJ Muse
Cantor Fitzgerald
1 question for TXN
Jim Schneider
Goldman Sachs
1 question for TXN
Toshiya Hari
Goldman Sachs Group, Inc.
1 question for TXN
Recent press releases and 8-K filings for TXN.
- TI plans to raise its quarterly cash dividend 4% to $1.42 per share (or $5.68 annualized), payable November 12, 2025, to shareholders of record October 31, 2025, pending board declaration in October.
- This increase marks 22 consecutive years of dividend hikes, underscoring TI’s long-term commitment to returning free cash flow to owners.
- The dividend raise aligns with TI’s objective of providing a sustainable and growing dividend over time.
- Texas Instruments increased its quarterly cash dividend by 4%, from $1.36 to $1.42 per share, or $5.68 annualized.
- The dividend is payable November 12, 2025, to shareholders of record on October 31, 2025, subject to board approval.
- This marks the 22nd consecutive year of dividend increases, highlighting TI’s commitment to returning all free cash flow to shareholders.
- Texas Instruments shares fell 10%—the largest drop since April—after management flagged that auto demand has not yet recovered and adopted a more cautious outlook following order spikes.
- The White House unveiled an AI action plan to remove “onerous” AI development regulations, identify over 90 federal policy actions, and promote rapid buildout of AI data centers.
- Former President Trump urged bipartisan support for a tax bill, saying even Democrats should back it to avoid a 68% tax increase.
- He asserted the legislation would cut $1.7 trillion in fraud, waste and abuse without harming services.
- Trump highlighted that U.S. tariffs have generated $88 billion in revenue, driven reshoring and new factory builds with no inflationary impact.
- He noted that Texas Instruments intends to invest $60 billion in new plants and equipment provided the tariffs remain in place.
- TI will invest $60 billion in its largest U.S. semiconductor manufacturing expansion in history, building seven fabs across Texas and Utah .
- The expansion is set to support more than 60,000 U.S. jobs and strengthen U.S. analog and embedded chip capacity .
- The Sherman mega-site will receive up to $40 billion for four new fabs (SM1–SM4), with SM1 beginning production in 2025 and initial production already underway .
- Additional production ramps and construction are underway at Richardson (RFAB2) in Texas and Lehi (LFAB1 ramping, LFAB2 under construction) in Utah .
- Strategic partnerships with Apple, Ford, Medtronic, NVIDIA, and SpaceX aim to leverage TI’s U.S.-made chips for advancements in consumer electronics, automotive, medical devices, and AI infrastructure .
- Analysts maintain a Hold rating (2.7/5) with target prices between $125 and $248 .
- TI management highlighted an early-stage cyclical upturn in the semiconductor market and outlined a three-phase capacity expansion plan—including external product transfers, new factory construction, and incremental capacity adjustments—to be well prepared for rising demand.
- The team discussed revenue scenarios ranging up to $26 billion with corresponding gross margins from the high 50s to low-mid 60s, emphasizing how capacity utilization affects margins.
- They reviewed inventory dynamics, explaining the “bullwhip effect” and steps taken to manage inventory during cyclical fluctuations in industrial and automotive segments.
- Management confirmed that pricing remains market-driven with low single-digit annual declines, and indicated expectations for increased share buybacks as CapEx requirements normalize going forward.
- TXN detailed its 6-year investment cycle that started in 2021 with the acquisition of the Lehi fab, and is now 70% complete with significant capacity expansion plans in Sherman, Texas.
- The company is investing approximately $12 billion in Lehi 2 and building two new 300-millimeter wafer fabs to support a broad range of analog and embedded applications.
- Increased exposure to high-growth industrial and automotive markets is a key focus to drive future revenue support while addressing geopolitical and supply chain risks.
- TXN highlighted a strategic turnaround in its embedded business with a new portfolio, with expectations for revenue acceleration starting in 2025.
- TXN announced the issuance of $1.2 billion in Notes, comprising $550 million of 4.500% Notes due 2030 and $650 million of 5.100% Notes due 2035.
- The offering was managed by underwriters including Barclays Capital Inc., Morgan Stanley & Co. LLC, and MUFG Securities Americas Inc., with detailed pricing and redemption terms outlined in the filing.
- Texas Instruments Inc. announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $1.2 billion.
- The offering includes $550 million of 4.500% notes due May 23, 2030 and $650 million of 5.100% notes due May 23, 2035.
- TI plans to use the net proceeds for general corporate purposes, with the offering expected to close on May 23, 2025.
- Q1 2025 Financial Performance: TI reported revenue of approximately $4.1 billion with 11% YoY growth, a 57% gross profit margin, net income of $1.18 billion, and EPS of $1.28 .
- Sequential Growth: Revenue grew 2% sequentially, driven by robust performance in most markets despite a seasonal decline in personal electronics .
- Q2 Guidance: The company anticipates Q2 revenue between $4.17 billion and $4.53 billion and EPS between $1.21 and $1.47, with an effective tax rate of 12-13% .
- Robust Cash Flow: Achieved $6.2 billion in operating cash flow over the trailing 12 months, enabling significant shareholder returns through dividends and stock repurchases .
- Management Transition: Executive Dave Pahl is retiring, with Mike Beckman stepping in as Vice President of Investor Relations .