New York, Feb 8, 2026, 16:55 ET — The market has wrapped up for the day.
- TXN slipped 1.13% to finish at $221.44 on Feb. 6, missing out on the broader market rally.
- Fresh SEC filings point to a capex drop in 2026 and spell out how the Silicon Labs acquisition will be financed.
- Coming up: Silicon Labs reports earnings on Feb. 10, while TI hosts its capital-management webcast Feb. 24.
Texas Instruments (TXN) slipped 1.13% on Friday, ending the day at $221.44. That performance lagged behind the S&P 500’s 1.97% jump and the Dow’s 2.47% gain. Shares wrapped up the session 3.23% off this week’s 52-week high, trading roughly 9.4 million shares—more than the 50-day average.
Analog chipmaker Texas Instruments is bracing for a sharp pullback in capital expenditures, targeting just $2 billion to $3 billion in 2026, down significantly from the $4.55 billion set for 2025, according to its latest annual report. The company’s filing pegs 2025 free cash flow at $2.94 billion, with its calculation factoring in operating cash flow, subtracting capex, and then adding in proceeds from U.S. CHIPS Act incentives.
Capex is now the major variable in TI’s cash equation. Trimmed spending means more cash left for dividends and buybacks. But investors are left to gauge if end-demand is robust enough to keep those factories humming.
TI is pressing ahead with its largest acquisition in years just as it reassesses spending. “The acquisition of Silicon Labs is a significant milestone,” said chief executive Haviv Ilan. Over at Silicon Labs, CEO Matt Johnson described both firms as having a “strong Texas heritage.” The deal, which they expect to close in the first half of 2027, is set to deliver roughly $450 million in annual manufacturing and operating synergies within three years. TI plans to pay using a mix of cash and debt. SEC
On Friday, two fresh insider filings landed for traders watching the tape. Senior Vice President Ahmad Bahai unloaded 3,000 shares on Feb. 5 at a weighted average price of $223.4622, according to a Form 4, after exercising options. Director Mark A. Blinn also exercised options and sold 3,144 shares, fetching a weighted average price of $221.5798.
In another move, an 8-K filing revealed Texas Instruments’ board tweaked its bylaws, adding a forum-selection clause that channels specific corporate and shareholder disputes to Delaware courts, while routing Securities Act cases to federal courts in the U.S.
The stock lagged Friday’s chip winners, underscoring a well-worn divide. AI-driven names rally on data-center demand. TI and other analog-focused players, on the other hand, mostly move with swings in industrial and auto orders—and with how much cash they generate as spending crests.
Looking to the coming week, all eyes are on Silicon Labs, the deal target, which will post its quarterly figures on Tuesday, Feb. 10. The company’s conference call kicks off at 7:30 a.m. Central Time. Comments about demand trends or updates on the deal’s progress could quickly move TXN shares.
Macro gets a parallel track. The U.S. jobs data hits on Wednesday, Feb. 11, with CPI inflation numbers landing Friday, Feb. 13 — both have the potential to shake up rate expectations and, with them, semiconductor valuations.
As for TI, the calendar points to Feb. 24 as the next critical moment. That’s when the company will webcast its capital-management presentation — typically a forum where investors scrutinize spending plans, cash return policies, and those all-important long-cycle demand forecasts.
Still, things could go south. Cutting capex frees up cash, but with factories underused, margins could get squeezed. Plus, the Silicon Labs deal faces regulatory and shareholder hurdles before any expected first-half 2027 close.
Monday’s open brings a key question: Was Friday’s drop a breather after hitting that 52-week high, or does it mark the beginning of a shakier mood? Silicon Labs’ Feb. 10 earnings call and TI’s Feb. 24 capital-management webcast are the next milestones traders are eyeing.
