Updated November 30, 2025
Texas Instruments Incorporated (NASDAQ: TXN) is closing out November with its share price recovering, fresh institutional money flowing in, and Wall Street still split on whether the analog‑chip giant is a bargain or a value trap.
Over the last trading session on November 28, TXN finished around $168.6, up nearly 2% on the day and roughly mid‑single‑digit gains over the past week, according to MarketBeat’s TXN news and quote page. [1] That puts the stock comfortably above its 52‑week low near $140, but still well below its 2025 high above $220. [2]
At the same time, a rush of new regulatory filings shows major institutions increasing exposure to TXN, even as several research houses downgrade the stock and warn about tariff‑driven volatility and heavy capital spending.
Key takeaways for Texas Instruments (TXN) on November 30, 2025
- Stock rebound: TXN closed near $168–169 on November 28, up roughly 1.9% on the day and extending a recent rebound after Q3 earnings. [3]
- Big new shareholder:Norges Bank, which manages Norway’s sovereign wealth fund, disclosed buying about 13.7 million TXN shares in Q2, a stake worth roughly $2.84 billion and around 1.5% of the company. [4]
- Earnings beat, cautious guidance: Q3 2025 revenue came in at $4.74 billion (up 14% year over year) with EPS of $1.48, beating expectations but accompanied by conservative Q4 guidance and management commentary stressing tariff uncertainty. [5]
- Rich dividend, high payout: Texas Instruments raised its quarterly dividend to $1.42 per share (annualized $5.68, ~3.4% yield at current prices) but now sports a payout ratio above 100% of current‑year earnings. [6]
- Analyst split: Citi maintains a Buy rating with a $235 price target, while Mizuho and BofA rate TXN “Underperform” and recently cut their targets; the broader Street consensus sits at “Hold” with an average target around the low $190s. [7]
- Macro overhang: Management has flagged a chip‑demand slowdown after a tariff‑driven order surge earlier in 2025; TXN is simultaneously ramping more than $60 billion of U.S. fab investments and expects up to $1.6 billion in CHIPS Act grants. [8]
Texas Instruments (TXN) stock price and performance heading into December
Based on consolidated data from MarketBeat and other quote providers, TXN: [9]
- Closed on November 28, 2025 at roughly $168.6
- Was up about 1.9% on the day
- Has been trading with:
- 52‑week low: around $139.95
- 52‑week high: around $221.69
- Trailing P/E: about 30x
- 50‑day moving average: around $170
- 200‑day moving average: around $187 [10]
Zacks and other outlets have highlighted that TXN has recently outperformed the broader market on a daily basis, posting roughly mid‑single‑digit gains over the past week, even though the stock remains negative over the last 12 months. [11]
In other words, the market currently treats TXN as a high‑quality, dividend‑heavy semiconductor name that has come off its 2025 lows but still trades in a consolidation band well below previous highs.
Wave of institutional filings: who is buying Texas Instruments now?
The loudest “news” around TXN on November 29–30 doesn’t come from the company itself but from regulatory filings summarized by MarketBeat’s TXN news feed. [12]
Among the most notable:
- Norges Bank (Norway’s sovereign wealth fund) reported buying about 13.66 million TXN shares in Q2, an investment valued at roughly $2.84 billion, giving the fund an estimated 1.5% stake. [13]
- Vinva Investment Management Ltd disclosed a new or enlarged position in TXN. [14]
- Level Four Advisory Services LLC reported adding TXN shares, with MarketBeat noting this alongside updated valuation metrics and confirming the Q3 earnings beat. [15]
Those filings are accompanied by a long list of smaller position changes by global asset managers, pension funds and advisory firms — including Skandinaviska Enskilda Banken, United Super (Australia’s Cbus‑related fund), the State Board of Administration of Florida, and multiple U.S. RIAs — some adding and some trimming. [16]
The net picture from late‑November filings:
- TXN remains deeply embedded in institutional portfolios, consistent with its status as a mega‑cap, dividend‑paying chip stock.
- While there is churn at the margin, the headline moves skew toward large new positions or increases, with Norges Bank’s stake the clearest signal that big long‑term money still sees TXN as a core holding.
Texas Instruments Q3 2025 earnings: analog strength, cautious guidance
The fundamental anchor for all this activity is Texas Instruments’ Q3 2025 report, released on October 21, 2025. [17]
Key numbers:
- Revenue: $4.742 billion
- Up 14% year over year
- Up 7% sequentially
- Net income: $1.36 billion
- EPS (diluted): $1.48
- Up ~1% from $1.47 a year ago
- Included a $0.10 drag not originally in guidance
- Operating profit: $1.66 billion
Segment trends (Q3 2025 vs. Q3 2024): [18]
- Analog revenue: up 16% year over year
- Embedded processing revenue: up 9%
- “Other” revenue: also higher, albeit from a smaller base
Management emphasized that growth was broad‑based across end markets, with industrial and automotive still the main long‑term drivers for TI’s analog and embedded portfolios. [19]
Q4 2025 outlook
TI guided for Q4 2025: [20]
- Revenue: $4.22–$4.58 billion
- EPS: $1.13–$1.39
That range implies:
- High‑single‑digit to low‑double‑digit revenue growth vs. last year
- A modest step down in EPS from Q3’s $1.48 at the mid‑point
Analysts generally saw Q3 as a clean beat on both revenue and earnings, but felt the Q4 guide and commentary were deliberately cautious, especially given rising uncertainty around tariffs and demand normalization.
Balance sheet, cash flow and capital returns
On the balance sheet and cash‑flow side, TI remains solid but more stretched than in prior years due to heavy fab investment: [21]
- Cash + short‑term investments: about $5.2 billion as of September 30, 2025
- Long‑term debt: about $13.55 billion, slightly down from the prior quarter
- Q3 operating cash flow: around $2.19 billion
- Q3 free cash flow (TI’s definition): about $1.07 billion
During Q3, TXN:
- Paid about $1.24 billion in dividends
- Repurchased roughly $119 million of stock
That last figure is important: buybacks, traditionally a major lever for TXN’s shareholder returns, are now much smaller as free cash flow is redirected toward multi‑billion‑dollar fab builds and other long‑term capacity projects.
Dividend story: high yield, high payout
On October 16, 2025, TI’s board declared a quarterly cash dividend of $1.42 per share, paid on November 12 to shareholders of record on October 31. [22]
Key implications:
- Annualized dividend: $5.68 per share
- Dividend yield: about 3.3–3.4% at current prices near $168–$170
- Payout ratio: slightly above 100% of expected 2025 EPS (MarketBeat estimates around 103–104%). [23]
For income‑oriented investors, TXN remains one of the highest‑yielding large‑cap stocks in the Nasdaq Composite, a fact that has been highlighted repeatedly in dividend‑focused coverage this year. [24]
However, the elevated payout ratio – combined with heavy capex and cyclical earnings – also feeds a recurring debate: how sustainable is this level of dividend growth if margins or demand falter for more than a couple of quarters?
Analyst sentiment: from “Sell” notes to high‑conviction dividend theses
Recent research and commentary on TXN is sharply divided.
Bearish and cautious voices
- Mizuho downgrade: On October 20, 2025, Mizuho cut Texas Instruments from Neutral to Underperform, slashing its price target from $200 to $150. The note cited sector headwinds, tariff‑related uncertainty and valuation as reasons for a more defensive stance. [25]
- BofA and other cuts: BofA Securities also downgraded TXN to Underperform and trimmed its target from $208 to $190, while Stifel and others reduced targets and maintained Hold ratings. [26]
- Zacks ranking: Zacks’ coverage has described TXN as a heavily searched “trending stock” but currently assigns it a Rank #4 (Sell) due to negative earnings revisions and cautious guidance. [27]
- Seeking Alpha “Sell”: A widely cited Seeking Alpha piece labeled TXN a Sell, arguing that sluggish growth and a rich multiple leave limited upside from current levels. [28]
The common thread: valuation risk (around 30x trailing earnings) plus a capital‑intensive expansion plan and macro headwinds make some analysts reluctant to recommend buying TXN after its recovery from the lows.
More constructive takes
- Citi’s Buy rating: In late November, Citi analyst Christopher Danely reiterated a Buy on TXN with a $235 price target, calling it one of the better low‑volatility large‑cap semiconductor stocks despite near‑term uncertainty. [29]
- MarketBeat consensus: Across 30‑plus brokerage firms tracked by MarketBeat, TXN carries an average “Hold” rating and a consensus price target around $190–$192, implying high‑single‑digit to low‑teens upside from recent levels. [30]
- Simply Wall St narrative: A recent analysis framed TXN as a long‑term analog leader whose cautious Q4 guidance has not fundamentally altered the long‑term growth story. The piece projects revenue of around $22.3 billion and earnings of $7.9 billion by 2028, implying roughly 10% annual revenue growth and estimated fair value near $190, about 15% above current prices. [31]
In short, the Street is split:
- Bears see a mature, capital‑hungry manufacturer facing tariff shocks, slower demand and limited upside at ~30x earnings.
- Bulls see a dominant analog franchise with premium margins, a protected competitive position and a dividend‑rich total‑return profile that can justify a higher multiple.
Tariffs, CHIPS Act grants and fab spending: the macro overhang
One of the most important threads running through TXN news this year is the interaction between tariffs, demand timing, and massive fab investment.
Tariff‑driven boom‑bust
- Reuters and conference commentary earlier this year highlighted that customers rushed orders in early 2025, ahead of U.S. tariffs on Chinese goods announced in April, creating an artificial “pull‑forward” demand surge. [32]
- By mid‑year, Texas Instruments’ CFO Rafael Lizardi warned that order momentum had slowed sharply once tariffs were in place, leading to a notable 4% stock drop on one September trading day as investors digested the new reality. [33]
This pattern matters for Q3 and Q4: while reported revenue growth looks strong, some of it reflects timing distortions rather than a smooth, secular uptrend.
CHIPS Act and fab build‑out
Simultaneously, TXN is in the middle of an enormous U.S. manufacturing expansion:
- The company has signaled over $60 billion in planned U.S. fab investments over the coming decade. [34]
- The U.S. Commerce Department has earmarked up to $1.6 billion in CHIPS Act grants for TI, structured as a conventional grant rather than the equity‑style deal seen with Intel. [35]
That combination means:
- Near‑term free cash flow is under pressure from fab spending, which is one reason buybacks have slowed. [36]
- Long‑term, TI is positioning itself as a key domestic analog supplier with scale and cost advantages in 300‑mm wafer production, which management argues will reinforce its pricing power and margin structure. [37]
Investors now need to judge whether the tariff‑driven volatility and capex drag are temporary turbulence or a structural headwind to returns.
Upcoming catalyst: CEO Haviv Ilan at UBS Global Technology & AI Conference
A near‑term event that TXN‑watchers are eyeing closely is CEO Haviv Ilan’s appearance at the UBS Global Technology and AI Conference in Scottsdale, Arizona, on December 2, 2025, at 11:35 a.m. Mountain time. [38]
TI has said Ilan will:
- Take analyst and investor questions
- Discuss the company’s business outlook
- Outline strategy for key end markets in analog and embedded processing
The session will be webcast via TI’s investor relations site, and could generate fresh headlines if Ilan:
- Updates demand commentary post‑Q3
- Comments on further tariff developments
- Provides more detail on CHIPS Act grants or fab timelines
- Talks about how TI prioritizes dividends vs. buybacks while capex is elevated
Given the current mix of bullish and bearish narratives, any incremental signals from Ilan on capacity utilization, pricing, and auto/industrial demand could move the stock.
Other recent TI headlines: calculators and education
Not all of Texas Instruments’ November news is about fabs and macroeconomics:
- In mid‑November, TI and ACT (the standardized testing organization) announced a partnership to build a calculator hub for ACT Math preparation, aimed at helping students improve math performance using TI’s calculator ecosystem. [39]
That kind of announcement doesn’t usually move TXN stock, but it reinforces TI’s brand presence in education and its long‑standing calculators business, which still represents a small but stable slice of overall revenue. [40]
What today’s news means for Texas Instruments stock
Putting the latest November 30 context together:
- Price action: TXN shares are off the lows but still in a consolidation zone, trading below 200‑day averages and prior peaks, but with a recent momentum uptick. [41]
- Ownership: Large institutions — most dramatically Norges Bank — are adding or maintaining sizeable positions, signaling that TXN remains a core long‑term holding for many professional investors. [42]
- Fundamentals: Q2 and Q3 2025 show double‑digit revenue growth and resilient margins, but also highlight how tariffs and demand timing can distort the trend. [43]
- Shareholder returns: The dividend is rich and growing, but buybacks are now a smaller part of the story as fabs soak up cash and the payout ratio climbs above 100%. [44]
- Valuation & sentiment: With a P/E around 30x and a consensus “Hold” rating, TXN sits in a strange middle ground: not cheap enough to lure deep value investors en masse, but also not expensive enough to trigger wholesale abandonment, given its franchise strength and dividend stream. [45]
For now, November 30’s “news” is less about a single bombshell headline and more about a mosaic:
- Big funds taking (or increasing) positions
- Analysts recalibrating targets
- Management walking the tightrope between tariff risk, capex, and shareholder payouts
Anyone following TXN into December will likely focus on:
- What CEO Haviv Ilan says at the UBS conference on December 2
- How orders and margins evolve as tariff effects work through the system
- Whether TI can sustain its dividend growth while funding its fab build‑out
References
1. www.marketbeat.com, 2. www.marketbeat.com, 3. www.marketbeat.com, 4. www.marketbeat.com, 5. www.ti.com, 6. investor.ti.com, 7. www.gurufocus.com, 8. www.reuters.com, 9. www.marketbeat.com, 10. www.marketbeat.com, 11. www.zacks.com, 12. www.marketbeat.com, 13. www.marketbeat.com, 14. www.marketbeat.com, 15. www.marketbeat.com, 16. www.marketbeat.com, 17. www.ti.com, 18. www.ti.com, 19. www.ti.com, 20. www.ti.com, 21. www.ti.com, 22. investor.ti.com, 23. www.marketbeat.com, 24. 247wallst.com, 25. www.gurufocus.com, 26. www.gurufocus.com, 27. www.zacks.com, 28. seekingalpha.com, 29. www.insidermonkey.com, 30. www.marketbeat.com, 31. simplywall.st, 32. www.reuters.com, 33. coincentral.com, 34. simplywall.st, 35. coincentral.com, 36. www.ti.com, 37. www.ti.com, 38. www.ti.com, 39. www.stocktitan.net, 40. www.ti.com, 41. www.marketbeat.com, 42. www.marketbeat.com, 43. www.ti.com, 44. investor.ti.com, 45. www.gurufocus.com
