德州仪器收购芯科实验室，股价波动，机构看好长期协同效应

Core Viewpoint - Texas Instruments announced a $7.5 billion all-cash acquisition of Silicon Labs, expected to be completed in the first half of 2027, aimed at enhancing its position in the IoT wireless connectivity sector and strengthening its presence in growth markets like industrial automation and automotive electronics [1] Stock Performance - Over the past week (February 8 to February 13, 2026), Texas Instruments' stock exhibited volatility, with a cumulative increase of 2.13% and a fluctuation range of 6.86%. As of February 13, the stock closed at $226.16, up 1.42% for the day, with trading volume decreasing to $1.098 billion, indicating a cautious market response to the acquisition news. Year-to-date, the stock has risen by 31.21%, reflecting a positive long-term trend [2] Financial Report Analysis - Texas Instruments reported Q4 2025 revenue of $4.423 billion, a 10% year-over-year increase, slightly below market expectations. However, the Q1 2026 revenue guidance midpoint (between $4.32 billion and $4.68 billion) exceeded analyst forecasts, marking the first quarter-over-quarter growth in 16 years. The data center business saw a 70% year-over-year increase, viewed as a positive signal for the recovery in analog chip demand, providing support for the recent stock price [3] Institutional Perspectives - Institutions generally hold a neutral to positive view on the acquisition. UBS noted on February 10, 2026, that the acquisition would help Texas Instruments expand into the IoT market, and the transaction size is relatively small, leading to optimism about long-term synergies. Huachuang Securities emphasized the strong growth in the data center business and the positive impact of the better-than-expected guidance in their report on January 30 [4]