What Happened?
Shares of analog chip manufacturer Texas Instruments (NASDAQ: TXN) jumped 3.4% in the afternoon session after Susquehanna raised its price target on the stock from $300 to $340 ahead of the company's second-quarter earnings report. The price target increase reflected the firm's confidence in the chipmaker's ability to perform well in the semiconductor industry. Ahead of the July 22 earnings release, analysts predicted earnings of $1.95 per share and revenue of $5.24 billion. Furthermore, market sentiment was bolstered by an optimistic outlook, with indications of a steady improvement in orders across most geographical regions. These expectations for better profitability and multiple analyst price target increases added momentum to the stock as investors positioned themselves ahead of the financial results.
After the initial pop, the shares cooled down to $292.73, up 3.2% from the previous close.
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What Is The Market Telling Us
Texas Instruments’s shares are somewhat volatile and have had 10 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 15 days ago when the stock gained 3.8% on the news that the semiconductor sector continued to rebound from the previous week's sharp selloff amid bullish Wall Street updates. Broadcom (AVGO) gained about 4.2% after it disclosed in an 8-K that it signed multi-year agreements with Apple through 2031 to supply custom ASIC silicon. Separately, bullish memory notes landed: UBS raised its Q3 DDR contract-pricing forecast to +32% quarter-on-quarter (from +17%) and reiterated DRAM undersupply "until at least 2Q28"; Citi added an upside catalyst watch on Micron; and BofA reiterated Buy ($1,550), arguing memory is "roughly 35-40% of cloud AI capex… yet memory stocks trade at sub-par 10x forward PE." Goldman's trading desk flagged an oversold buy-the-dip setup after momentum factors fell 24% from their peak, the largest drawdown since Q1 2023. This was a sector recovery on top of a technical bounce and cheaper oil after OPEC+ lifted output. Two events reinforced it as SK Hynix's ~$28bn Nasdaq listing the previous week and Samsung's earnings later in the week kept the "memory super-cycle" story in the headlines.
Texas Instruments is up 64.9% since the beginning of the year, but at $292.73 per share, it is still trading 9.9% below its 52-week high of $324.89 from May 2026. Investors who bought $1,000 worth of Texas Instruments’s shares 5 years ago would now be looking at an investment worth $1,507.
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