Analyst Consensus ?
ConsensusHold64 ratings
Bullish3046.9%
Neutral2843.7%
Bearish69.4%
Texas Instruments Incorporated · TXN · FY2026 Q2 · Calendar Q3 2026
TXN Q2 2026: Revenue and EPS Beat, Pricing Hikes Begin, Guidance Reaffirmed
Texas Instruments posted a second consecutive quarter of accelerating growth, with Q2 revenue up 23% YoY to $5.46 billion and EPS of $2.14 beating consensus by 12%. Gross margin expanded 340 bps to 61% as industrial, automotive, and data-center demand all gained. Management reaffirmed Q3 guidance and announced pricing increases beginning in Q3, signaling confidence in demand sustainability. The stock traded modestly lower post-earnings despite the beat, with analyst attention focused on whether H2 momentum can persist.
Reported After market closeNASDAQTechnology
$254.29B market cap
100quality score
Company context
Snapshot as of publicationTexas Instruments Incorporated (TI) specializes in the global design, production, and sale of semiconductors to electronics engineers and manufacturers. Its operations are structured into two core segments: Analog and Embedded Processing. The Analog division provides a comprehensive suite of power management products, such as battery-management solutions, various DC/DC and AC/DC switching regulators and controllers, power switches, linear regulators, voltage supervisors, references, and lighting components, all critical for managing diverse power needs. This segment also delivers signal chain products designed to sense, condition, and measure electrical signals, facilitating information transfer or conversion for further processing and control, encompassing items like amplifiers, data converters, interface devices, motor drives, clocks, and sensing…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.14
Consensus $2
EPS surprise
+12.0%
Reported versus consensus
Reported revenue
$5.46B
Consensus $5.26B
Revenue surprise
+3.9%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$272.64Current
$140Low
$249.71Average
$405High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Aug 17, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Jul 24, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 23, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 23, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 23, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jul 23, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 23, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jul 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Jul 23, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 23, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Jul 23, 2026 |
| Benchmark | Buy | Buy | Maintain | Jul 23, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 23, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 21, 2026 |
| UBS | Buy | Buy | Maintain | Jun 29, 2026 |
| Stifel | Buy | Buy | Maintain | Jun 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jun 15, 2026 |
| B of A Securities | Buy | Buy | Maintain | May 26, 2026 |
| Seaport Global | Buy | Neutral | Upgrade | May 22, 2026 |
| Jefferies | Hold | Hold | Maintain | Apr 23, 2026 |
| Barclays | Equal Weight | Underweight | Upgrade | Apr 23, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 28, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jul 28, 2025 |
| TD Securities | Hold | Hold | Maintain | Apr 24, 2025 |
| Oppenheimer | Perform | Perform | Maintain | Apr 24, 2024 |
| BMO Capital | Outperform | Outperform | Maintain | Oct 25, 2023 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Jan 25, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 26, 2022 |
| Raymond James | Market Perform | Outperform | Downgrade | Feb 14, 2022 |
| Edward Jones | Hold | Buy | Downgrade | Feb 11, 2022 |
| Longbow Research | Neutral | Buy | Downgrade | Sep 20, 2021 |
| Summit Insights Group | Hold | Buy | Downgrade | Jul 22, 2021 |
| Cascend | Buy | Buy | Maintain | Apr 27, 2021 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Oct 21, 2020 |
| DZ Bank | Buy | Hold | Upgrade | Jul 23, 2020 |
| Charter Equity | Market Outperform | Market Perform | Upgrade | Jul 22, 2020 |
| Exane BNP Paribas | Underperform | Neutral | Downgrade | Jul 9, 2020 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Apr 22, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jan 23, 2020 |
| Nomura Instinet | Neutral | Neutral | Maintain | Jan 23, 2020 |
| Nomura | Neutral | Neutral | Maintain | Jan 23, 2020 |
| Bank of America | Buy | Buy | Maintain | Oct 23, 2019 |
| B. Riley Securities | Neutral | Neutral | Maintain | Oct 24, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Oct 24, 2018 |
| Atlantic Equities | Overweight | Overweight | Maintain | Jul 10, 2018 |
| Loop Capital | Buy | Buy | Maintain | Jun 22, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Macquarie | Neutral | Neutral | Maintain | Mar 31, 2017 |
| Summit Redstone Partners | Buy | Buy | Maintain | Dec 28, 2016 |
| CLSA | Underperform | Underperform | Maintain | Jul 26, 2016 |
| Drexel Hamilton | Buy | Buy | Maintain | Mar 1, 2016 |
| Tigress Financial | Buy | Neutral | Upgrade | Jan 28, 2015 |
| FBR Capital | Market Perform | Market Perform | Maintain | Jul 22, 2014 |
| Argus Research | Buy | Hold | Upgrade | Jun 25, 2014 |
| ISI Group | Neutral | Neutral | Maintain | Apr 10, 2014 |
| Ascendiant Capital | Buy | Buy | Maintain | Mar 11, 2014 |
| Sterne Agee | Underperform | Underperform | Maintain | Jun 11, 2013 |
| Williams Capital | Buy | Buy | Maintain | Mar 8, 2013 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Feb 26, 2013 |
| Wedbush | Outperform | Outperform | Maintain | Feb 25, 2013 |
| Maxim Group | Underperform | Underperform | Maintain | Jan 23, 2013 |
| Canaccord Genuity | Hold | Hold | Maintain | Oct 23, 2012 |
| Pacific Crest | Sector Perform | Outperform | Downgrade | Oct 3, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $272.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Arete Research | Alexi de Unger | $405 | $277.07 | +48.5% | Jul 29, 2026 |
| UBS | Analyst unavailable | $380 | $284.02 | +39.4% | Jul 23, 2026 |
| Mizuho Securities | Vijay Rakesh | $305 | $284.47 | +11.9% | Jul 23, 2026 |
| Robert W. Baird | Analyst unavailable | $385 | $283.33 | +41.2% | Jul 23, 2026 |
| Evercore ISI | Mark Lipacis | $330 | $284.18 | +21.0% | Jul 23, 2026 |
| Truist Financial | Analyst unavailable | $300 | $294.19 | +10.0% | Jul 23, 2026 |
| KeyBanc | John Vinh | $400 | $294.19 | +46.7% | Jul 23, 2026 |
| Bernstein | Analyst unavailable | $290 | $294.19 | +6.4% | Jul 23, 2026 |
| Morgan Stanley | Joseph Moore | $255 | $294.19 | -6.5% | Jul 23, 2026 |
| Wells Fargo | Analyst unavailable | $310 | $294.19 | +13.7% | Jul 23, 2026 |
| Goldman Sachs | James Schneider | $225 | $294.19 | -17.5% | Jul 23, 2026 |
| Susquehanna | Christopher Rolland | $340 | $290.52 | +24.7% | Jul 21, 2026 |
| Morgan Stanley | Analyst unavailable | $230 | $290.54 | -15.6% | Jul 20, 2026 |
| KeyBanc | Analyst unavailable | $390 | $298.57 | +43.0% | Jul 14, 2026 |
| UBS | Analyst unavailable | $350 | $278.81 | +28.4% | Jun 29, 2026 |
| Cantor Fitzgerald | Matthew Prisco | $340 | $285.42 | +24.7% | Jun 29, 2026 |
| Stifel Nicolaus | Tore Svanberg | $360 | $304.36 | +32.0% | Jun 24, 2026 |
| Wells Fargo | Analyst unavailable | $300 | $290.9 | +10.0% | Jun 9, 2026 |
| Seaport Global | Jay Goldberg | $400 | $298.39 | +46.7% | May 22, 2026 |
| Mizuho Securities | Analyst unavailable | $300 | $300.6 | +10.0% | May 19, 2026 |
| Stifel Nicolaus | Analyst unavailable | $340 | $302.1 | +24.7% | May 15, 2026 |
| Wolfe Research | Analyst unavailable | $315 | $279.72 | +15.5% | Apr 23, 2026 |
| Truist Financial | Analyst unavailable | $278 | $276.18 | +2.0% | Apr 23, 2026 |
| UBS | Analyst unavailable | $295 | $273.49 | +8.2% | Apr 23, 2026 |
| Stifel Nicolaus | Tore Svanberg | $290 | $274.5 | +6.4% | Apr 23, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $280 | $273.61 | +2.7% | Apr 23, 2026 |
| Susquehanna | Analyst unavailable | $300 | $236.31 | +10.0% | Apr 23, 2026 |
| Robert W. Baird | Tristan Gerra | $300 | $236.31 | +10.0% | Apr 23, 2026 |
| KeyBanc | Analyst unavailable | $325 | $236.31 | +19.2% | Apr 23, 2026 |
| Jefferies | Analyst unavailable | $260 | $236.31 | -4.6% | Apr 23, 2026 |
| Barclays | Tom O'Malley | $250 | $236.31 | -8.3% | Apr 23, 2026 |
| Mizuho Securities | Vijay Rakesh | $215 | $223.1 | -21.1% | Apr 16, 2026 |
| Stifel Nicolaus | Analyst unavailable | $250 | $214.98 | -8.3% | Apr 9, 2026 |
| Truist Financial | Analyst unavailable | $250 | $221.78 | -8.3% | Feb 23, 2026 |
| Cantor Fitzgerald | Matthew Prisco | $250 | $221.05 | -8.3% | Feb 23, 2026 |
| Raymond James | Analyst unavailable | $240 | $214.89 | -12.0% | Jan 28, 2026 |
| UBS | Timothy Arcuri | $260 | $211.31 | -4.6% | Jan 28, 2026 |
| Mizuho Securities | Analyst unavailable | $160 | $211.06 | -41.3% | Jan 28, 2026 |
| Goldman Sachs | Analyst unavailable | $175 | $211.16 | -35.8% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $180 | $196.63 | -34.0% | Jan 28, 2026 |
| Robert W. Baird | Tristan Gerra | $225 | $196.63 | -17.5% | Jan 28, 2026 |
| Stifel Nicolaus | Tore Svanberg | $215 | $196.63 | -21.1% | Jan 28, 2026 |
| Cantor Fitzgerald | Matthew Prisco | $225 | $196.63 | -17.5% | Jan 28, 2026 |
| Bernstein | Analyst unavailable | $205 | $196.63 | -24.8% | Jan 28, 2026 |
| Wells Fargo | Analyst unavailable | $215 | $196.63 | -21.1% | Jan 28, 2026 |
| Barclays | Tom O'Malley | $175 | $196.63 | -35.8% | Jan 28, 2026 |
| Susquehanna | Christopher Rolland | $225 | $194.41 | -17.5% | Jan 22, 2026 |
| BNP Paribas | David O'Connor | $190 | $194.41 | -30.3% | Jan 22, 2026 |
| Barclays | Tom O'Malley | $140 | $193.45 | -48.7% | Jan 15, 2026 |
| Wells Fargo | Joe Quatrochi | $185 | $193.45 | -32.1% | Jan 15, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $190 | $177.77 | -30.3% | Dec 16, 2025 |
| Goldman Sachs | Analyst unavailable | $156 | $179.45 | -42.8% | Dec 15, 2025 |
| Mizuho Securities | Analyst unavailable | $145 | $180.84 | -46.8% | Oct 22, 2025 |
| Truist Financial | William Stein | $175 | $180.84 | -35.8% | Oct 22, 2025 |
| UBS | Timothy Arcuri | $245 | $180.84 | -10.1% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $175 | $180.84 | -35.8% | Oct 22, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $170 | $180.84 | -37.6% | Oct 22, 2025 |
| Stifel Nicolaus | Analyst unavailable | $170 | $180.84 | -37.6% | Oct 22, 2025 |
| Robert W. Baird | Tristan Gerra | $195 | $180.84 | -28.5% | Oct 22, 2025 |
| Susquehanna | Christopher Rolland | $200 | $180.84 | -26.6% | Oct 22, 2025 |
| Goldman Sachs | James Schneider | $200 | $180.84 | -26.6% | Oct 22, 2025 |
| Wolfe Research | Chris Caso | $230 | $184.99 | -15.6% | Jul 28, 2025 |
| UBS | Timothy Arcuri | $255 | $214.57 | -6.5% | Jul 22, 2025 |
| Wells Fargo | Joe Quatrochi | $190 | $199.22 | -30.3% | Jun 16, 2025 |
| Mizuho Securities | Vijay Rakesh | $170 | $162.13 | -37.6% | Apr 24, 2025 |
| UBS | Timothy Arcuri | $215 | $162.13 | -21.1% | Apr 24, 2025 |
| Barclays | Tom O'Malley | $125 | $146.76 | -54.2% | Apr 22, 2025 |
| UBS | Timothy Arcuri | $225 | $150.98 | -17.5% | Apr 14, 2025 |
| Bank of America Securities | Vivek Arya | $215 | $200.64 | -21.1% | Oct 23, 2024 |
| Morgan Stanley | Joseph Moore | $167 | $193.97 | -38.7% | Oct 23, 2024 |
| Robert W. Baird | Tristan Gerra | $175 | $193.97 | -35.8% | Oct 23, 2024 |
| Goldman Sachs | Toshiya Hari | $190 | $193.97 | -30.3% | Oct 23, 2024 |
| Evercore ISI | Mark Lipacis | $298 | $193.97 | +9.3% | Oct 23, 2024 |
| Barclays | Tom O'Malley | $200 | $193.97 | -26.6% | Oct 23, 2024 |
| Mizuho Securities | Vijay Rakesh | $200 | $198.3 | -26.6% | Oct 18, 2024 |
| Bernstein | Stacy Rasgon | $140 | $200.69 | -48.7% | Oct 17, 2024 |
| Truist Financial | William Stein | $198 | $202.54 | -27.4% | Aug 21, 2024 |
| Goldman Sachs | Toshiya Hari | $189 | $207.34 | -30.7% | Aug 21, 2024 |
| Citigroup | Christopher Danely | $235 | $207.3 | -13.8% | Aug 21, 2024 |
| Deutsche Bank | Ross Seymore | $200 | $202.81 | -26.6% | Aug 20, 2024 |
| J.P. Morgan | Harlan Sur | $230 | $198.28 | -15.6% | Jul 24, 2024 |
| Deutsche Bank | Ross Seymore | $185 | $199.32 | -32.1% | Jul 24, 2024 |
| Jefferies | Blayne Curtis | $185 | $198.29 | -32.1% | Jul 24, 2024 |
| KeyBanc | John Vinh | $250 | $198.29 | -8.3% | Jul 24, 2024 |
| Barclays | Tom O'Malley | $210 | $198.29 | -23.0% | Jul 24, 2024 |
| Rosenblatt Securities | Hans Mosesmann | $250 | $199.1 | -8.3% | Jul 22, 2024 |
| Morgan Stanley | Joseph Moore | $156 | $203.62 | -42.8% | Jul 10, 2024 |
| UBS | Timothy Arcuri | $250 | $200.14 | -8.3% | Jul 8, 2024 |
| Deutsche Bank | Ross Seymore | $160 | $199.92 | -41.3% | May 28, 2024 |
| Wells Fargo | Gary Mobley | $150 | $195.53 | -45.0% | May 16, 2024 |
| Evercore ISI | Mark Lipacis | $213 | $166.35 | -21.9% | Apr 15, 2024 |
| Stifel Nicolaus | Tore Svanberg | $160 | $170.75 | -41.3% | Jan 24, 2024 |
| UBS | Timothy Arcuri | $195 | $173.65 | -28.5% | Jan 19, 2024 |
| Bernstein | Stacy Rasgon | $145 | $169.89 | -46.8% | Aug 30, 2023 |
| Oppenheimer | Rick Schafer | $195 | $176.38 | -28.5% | Jul 26, 2023 |
| Susquehanna | Susquehanna Susquehanna | $210 | $183.49 | -23.0% | Feb 8, 2023 |
| Truist Financial | Analyst unavailable | $180 | $184.78 | -34.0% | Feb 3, 2023 |
| Credit Suisse | Analyst unavailable | $205 | $173.46 | -24.8% | Nov 16, 2022 |
| Citigroup | Christopher Danely | $155 | $157.87 | -43.1% | Oct 26, 2022 |
| Cowen & Co. | Joshua Buchalter | $160 | $157.87 | -41.3% | Oct 26, 2022 |
| Barclays | Blayne Curtis | $150 | $161.65 | -45.0% | Oct 24, 2022 |
| Mizuho Securities | Analyst unavailable | $168 | $168.76 | -38.4% | Jul 27, 2022 |
| Morgan Stanley | Analyst unavailable | $160 | $169.72 | -41.3% | Jul 27, 2022 |
| UBS | Analyst unavailable | $165 | $170.02 | -39.5% | Jul 27, 2022 |
| Deutsche Bank | Analyst unavailable | $165 | $169.97 | -39.5% | Jul 27, 2022 |
| Citigroup | Analyst unavailable | $165 | $160.84 | -39.5% | Jul 27, 2022 |
| Oppenheimer | Analyst unavailable | $200 | $163.86 | -26.6% | Jul 21, 2022 |
| Deutsche Bank | Analyst unavailable | $160 | $163.34 | -41.3% | Jul 20, 2022 |
| Morgan Stanley | Analyst unavailable | $155 | $161.58 | -43.1% | Jun 10, 2022 |
| Credit Suisse | John Pitzer | $195 | $170.25 | -28.5% | Apr 29, 2022 |
| Mizuho Securities | Analyst unavailable | $175 | $166.74 | -35.8% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $170 | $167.07 | -37.6% | Apr 27, 2022 |
| Barclays | Analyst unavailable | $150 | $165.88 | -45.0% | Apr 27, 2022 |
| Citigroup | Christopher Danely | $160 | $169.39 | -41.3% | Apr 27, 2022 |
| KeyBanc | John Vinh | $220 | $169.48 | -19.3% | Apr 27, 2022 |
| Robert W. Baird | Tristan Gerra | $160 | $168.44 | -41.3% | Apr 26, 2022 |
| Mizuho Securities | Vijay Rakesh | $175 | $168.44 | -35.8% | Apr 26, 2022 |
| Rosenblatt Securities | Hans Mosesmann | $230 | $168.44 | -15.6% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $181 | $172.98 | -33.6% | Apr 25, 2022 |
| Morgan Stanley | Joseph Moore | $181 | $173.91 | -33.6% | Apr 25, 2022 |
| Credit Suisse | Randy Abrams | $200 | $173.91 | -26.6% | Apr 25, 2022 |
| Truist Financial | William Stein | $189 | $171.94 | -30.7% | Apr 11, 2022 |
| Truist Financial | William Stein | $195 | $171.42 | -28.5% | Feb 6, 2022 |
| Deutsche Bank | Ross Seymore | $180 | $177.29 | -34.0% | Jan 30, 2022 |
| Robert W. Baird | Tristan Gerra | $200 | $177.16 | -26.6% | Jan 26, 2022 |
| KeyBanc | John Vinh | $240 | $177.16 | -12.0% | Jan 26, 2022 |
| UBS | Timothy Arcuri | $180 | $177.16 | -34.0% | Jan 26, 2022 |
| BMO Capital | Ambrish Srivastava | $215 | $177.16 | -21.1% | Jan 26, 2022 |
| Citigroup | Christopher Danely | $187 | $177.16 | -31.4% | Jan 26, 2022 |
| Jefferies | Mark Lipacis | $220 | $177.16 | -19.3% | Jan 26, 2022 |
| Evercore ISI | C J Muse | $190 | $177.16 | -30.3% | Jan 26, 2022 |
| J.P. Morgan | Harlan Sur | $225 | $177.16 | -17.5% | Jan 26, 2022 |
| Morgan Stanley | Craig Hettenbach | $198 | $177.16 | -27.4% | Jan 26, 2022 |
| Oppenheimer | Rick Schafer | $220 | $172.31 | -19.3% | Jan 20, 2022 |
| Barclays | Blayne Curtis | $180 | $182.28 | -34.0% | Jan 18, 2022 |
| Stifel Nicolaus | Tore Svanberg | $200 | $184.73 | -26.6% | Oct 27, 2021 |
| Piper Sandler | Weston Twigg | $250 | $191.42 | -8.3% | Oct 5, 2021 |
Track every rating change on TXN the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-3.1%
Event window
SPY move
-1.2%
Same window
Abnormal move
-1.9%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
-2.0%
Up to 20 sessions
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Try FN2 freeTranscript intelligence
What changed
Revenue growth accelerated from 19% YoY in Q1 to 23% YoY in Q2. Gross margin expanded from 58% to 61%, with the rate of improvement widening from 210 bps to 340 bps sequentially. Automotive demand accelerated to mid-teens YoY growth, supported by low customer inventory levels and EV/hybrid adoption. Data-center growth roughly doubled YoY, building on the 90% growth seen in Q1. Management introduced a new element not present last quarter: pricing increases beginning in Q3 and continuing into Q4, a shift from the prior quarter's emphasis on pricing stability. The Silicon Labs acquisition timeline was refined from a broad 2027 close to the first half of next year. CHIPS Act and ITC incentive contributions to free cash flow grew, with $1.6 billion in cumulative contributions and $549 million in ITC payments received this quarter. Free cash flow reached $6.5 billion on a trailing 12-month basis, enabling $5.8 billion in shareholder returns.
Guidance delta
Q3 guidance was reaffirmed at $5.65-$6.15 billion in revenue and $2.23-$2.57 in EPS. Q2 actuals exceeded the company's prior guidance range of $5.0-$5.4 billion revenue and $1.77-$2.05 EPS, with revenue of $5.46 billion and EPS of $2.14 both coming in above the high end of the guided range. The most notable new guidance element is the pricing increase initiative starting in Q3 and continuing into Q4, which was not part of the prior quarter's outlook. Capex outlook remains increasing. Guidance sentiment is maintained.
Key takeaways
- Revenue grew 23% YoY to $5.46 billion, beating consensus estimates by 3.9%.
- EPS of $2.14 exceeded the consensus estimate of $1.91 by 12%, and topped the high end of prior guidance.
- Gross margin expanded 340 bps to 61% of revenue, accelerating from 210 bps of improvement in Q1.
- Q3 guidance reaffirmed at $5.65-$6.15 billion revenue and $2.23-$2.57 EPS.
- Pricing increases are being rolled out in Q3, with further hikes expected into Q4 and beyond.
- Free cash flow reached $6.5 billion trailing 12 months, supporting $5.8 billion in shareholder returns.
Management priorities
- Implement pricing actions across Analog and Embedded segments starting in Q3 and continuing into Q4.
- Leverage increased 300-mm fab loadings and available clean-room space to meet rising demand.
- Complete the Silicon Labs acquisition in the first half of next year to broaden embedded wireless connectivity.
- Develop and launch 800-volt data-center solutions as the market matures.
- Maintain disciplined capital allocation while targeting free-cash-flow-per-share growth.
Sources
- Earnings call transcript and parsed analysis · 2026-07-23T01:05:57.578162+00:00
- FN2 earnings calendar · 2026-07-28T01:23:15.070317+00:00
- Polygon adjusted daily market bars · 2026-07-28T12:01:44.614376+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T12:01:44.611713+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.