Benchmark Increases Texas Instruments Price Target to $230, Reaffirms Buy Rating

Benchmark analysts raised their price target for Texas Instruments (NASDAQ:TXN) to $230 from $210, while maintaining a Buy rating on the stock. The analysts' increased confidence in Texas Instruments stems from a recent Fireside Chat discussion with the company's management, which reinforced their view that TI is well-positioned among large-cap semiconductor stocks as the industry emerges from an inventory correction and enters a new growth cycle.

They noted that Texas Instruments' extensive market reach and substantial inventory position the company favorably to benefit from any improvements in industry supply and demand dynamics.

Furthermore, the analysts highlighted Texas Instruments' strategic focus on increasing capital expenditures, including plans to complete four to six new 300mm facilities in addition to its two existing ones. This expansion is expected to enhance the company's gross and operating margins and provide a more competitive cost structure over the medium to long term.