On Friday, Texas Instruments Incorporated (NASDAQ:TXN) (TI) completed the sale of $1.2 billion in notes, according to a recent SEC filing. The semiconductor company, headquartered in Dallas, Texas, issued $550 million of 4.5% notes due in 2030 and $650 million of 5.1% notes due in 2035. The sale was conducted under an underwriting agreement with Barclays Capital Inc., Morgan Stanley & Co. LLC, and MUFG Securities Americas Inc. as the underwriters.
The issuance was made under an existing indenture agreement dated May 23, 2011, with U.S. Bank Trust Company, National Association, as trustee. The terms and conditions of the newly issued notes are detailed in an officers’ certificate filed with the SEC and incorporated by reference in the 8-K filing.
The notes were offered to investors through TI’s registration statement on Form S-3, which was initially filed on February 14, 2025. A preliminary prospectus supplement and a final prospectus supplement related to the offering were dated May 20, 2025.
TI, known for its semiconductors and related devices, operates under Delaware’s jurisdiction with a fiscal year ending on December 31. The company’s common stock is traded on The Nasdaq Stock Market LLC under the ticker symbol TXN. With a market capitalization of $160 billion, TI has demonstrated its commitment to shareholder returns, maintaining dividend payments for 55 consecutive years and offering a current dividend yield of 3%. InvestingPro analysis reveals 13 additional key insights about TI’s performance and prospects, available to subscribers.
The SEC filing also includes exhibits such as the underwriting agreement, officers’ certificate setting forth the terms of the notes, and legal opinions from Davis Polk & Wardwell LLP. This financial move by Texas Instruments comes as part of its corporate financing activities.
The information for this article is based on a press release statement filed with the SEC.
In other recent news, Texas Instruments reported strong financial results for the first quarter, with revenue reaching $4.07 billion, surpassing expectations. The company projected a second-quarter revenue midpoint of $4.35 billion, indicating a 6.9% sequential growth. Analysts from UBS, Benchmark, Stifel, and TD Cowen have adjusted their price targets for Texas Instruments, reflecting both optimism and caution. UBS lowered its price target to $215 while maintaining a Buy rating, noting potential impacts from trade tensions. Benchmark also reduced its target to $200, highlighting Texas Instruments’ positive outlook amidst a broader industry recovery. Stifel and TD Cowen kept their price targets steady at $160, each maintaining a Hold rating, citing uncertainties related to tariffs and market conditions. Cantor Fitzgerald adjusted its price target down to $170, maintaining a Neutral rating due to macroeconomic factors. Despite these varying perspectives, Texas Instruments’ recent performance has largely exceeded expectations, with analysts acknowledging the company’s strong position in the current cyclical recovery.
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