Texas Instruments Buy Upgrade Sets $400 Target, $5B-to-$15B TAM by 2030
Seaport Research raised Texas Instruments to Buy from Neutral, setting a $400 price target based on an anticipated shift to 800-volt DC in data centers. The firm forecasts the power analog semiconductor market to expand from $5 billion today to $15 billion by 2030, with TXN’s broad product lineup and GaN platform leading the gains.
1. Upgrade to Buy
Seaport Research elevated Texas Instruments from Neutral to Buy and established a $400 price target, citing the company’s leadership in power analog semiconductors and gallium nitride (GaN) technology as key drivers.
2. Data Center Power Re-architecture
Analyst Jay Goldberg expects data centers to transition from 480-volt to 800-volt DC power distribution, enhancing transmission efficiency and expanding the total addressable market for power analog chips from $5 billion to $15 billion by 2030.
3. Timing and Deployment
While volume deployments of 800-volt data centers are projected in 2028, design selections are occurring this year, suggesting early supply chain signals and product announcements will precede actual earnings impact.
4. Competitive Landscape
Seaport identifies Texas Instruments as best positioned to benefit, noting Infineon’s silicon carbide and GaN strengths and Wolfspeed’s SiC focus, with Nvidia’s Kyber racks slated for late-2027 volume shipments driving initial demand.