Texas Instruments produces analog and embedded chips in tens of thousands of varieties, the unglamorous components that manage power and signals in industrial equipment, cars and electronics of every kind. Manufacturing in its own 300-millimeter US fabs gives a structural cost advantage most rivals lack, and long product lifecycles mean chips designed decades earlier still sell. The company is famous for capital allocation discipline, returning free cash flow to owners through relentless dividend growth and buybacks since 2004.