Texas Instruments Inc (NASDAQ:TXN) is 13.5% higher to trade at $270.74 and nabbed a record high $276.10 out of the gate, after the semiconductor name beat earnings and revenue expectations for the first quarter. The company also issued an upbeat current-quarter forecast of $1.77 to $2.05 per share on $5 billion to $5.4 billion in revenue, both of which were above estimates.
In response, Barclays upgraded TXN to "equal weight" from "underweight" and hiked its price target to $250 from $175. Another 14 analysts lifted their price objectives as well. The brokerage bunch was skeptical coming into today, with 22 of the 35 in coverage sporting a "hold" or worse rating.
TXN is on track for its best single-day percentage gain since April 2025, while also boasting a 56.1% year-to-date lead. The stock has been in rally mode since bouncing off the 100-day moving average in late March, and last week broke above a ceiling at the $230 region.
The equity boasts a 50-day call/put volume ratio of 3.09 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the 98th annual percentile, suggesting options traders have been much more bullish than usual.
So far today, 18,000 calls and 9,306 puts have already crossed the tape, which is 16 times the amount typically seen at this point. Most popular is the May 230 call, with new positions being sold to open at the 255 call in that series.
