NEW YORK, June 27, 2026, 12:01 EDT
- Texas Instruments NASDAQ:TXN slid 8.46% to $285.43 Friday, bringing its drop to 14.1% since Monday’s close. Volume reached 29.8 million shares.
- Friday’s volume ran 3.2 times above the stock’s average from the week’s first four sessions, according to company price data.
- FTSE Russell will shift TI from 100% Defensive to 100% Dynamic in the Russell 1000 Stability indexes at Monday’s open as part of its June reset.
- Next week will be a short one, with Nasdaq saying it will close July 3 for the observed Independence Day holiday.
Texas Instruments NASDAQ:TXN logged a sharp drop to end the week, caught in what traders called the “wrong” side of the Russell reconstitution trade. Shares slid 8.46% to $285.43 on Friday, after starting the week at $332.28 and hitting $334.03 on Monday. Volume spiked to 29.8 million shares, up from about 9.3 million shares a day through Thursday. Texas Instruments
The stock dropped harder than the chip index. The iShares Semiconductor ETF (NYSEARCA:SOXX) was down around 5.7% on Friday. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) slipped roughly 0.5%, market data showed.
Texas Instruments is seeing a shift in its status with FTSE Russell as the June reconstitution hits Monday’s open. The index group now classifies TI as 100% Dynamic in the Russell 1000 Stability indexes, dropping it from the 100% Defensive category, according to the FTSE Russell summary. TI becomes the biggest company added by weight to the Dynamic index and, at the same time, the largest by weight to exit the Defensive side.
FTSE Russell sorts more economically sensitive companies into the Dynamic bucket, while Defensive firms go on the stable side. For index-linked flows, TI gets a new label next week, just after its biggest volume day this week.
FTSE Russell said Friday’s session was expected to be heavy. The firm put assets tied to Russell U.S. indexes at about $12.2 trillion. Reconstitution day is one of the highest-volume trading days each year.
Jefferies equity analyst Steven DeSanctis said the Russell trade was “really massive” before the close on Friday, according to Reuters. Stephens analyst Melissa Roberts called it a “key liquidity day.” Reuters
Texas Instruments’ equity value dropped by about $24.0 billion as shares fell from Thursday to Friday, based on Wall Street Journal data for 910.09 million shares outstanding. The WSJ put TI’s market cap at $259.76 billion. Trailing P/E was 48.83 and EPS checked in at $5.85.
That multiple is where the squeeze shows. The shares had traded with more of a cyclical, AI-linked profile than as a steady analog cash machine. On Friday, the story landed in one move: semis were hit and the index shift was in play.
Bulls still have numbers to point to. In April, TI posted first-quarter revenue of $4.83 billion, net income of $1.55 billion, and earnings per share of $1.68. CEO Haviv Ilan said revenue was up “9% sequentially and 19% from the same quarter a year ago,” with growth led by industrial and data center. The company set second-quarter revenue guidance at $5.00 billion to $5.40 billion and EPS between $1.77 and $2.05. Texas Instruments
TI’s data-center business jumped about 90% year over year, Reuters said after April earnings, citing Ilan’s comments from the call. Back then, Stifel’s Tore Svanberg called the industrial segment “particularly strong” and said auto demand looked set to pick up again. Reuters
Markets head into a four-day week. Nasdaq will be shut July 3 for Independence Day observed, according to the 2026 holiday calendar. Texas Instruments has its Q2 earnings lined up for July 22.
