The 22-year-old was an ever-present for the Championship side under Walter Zenga, but has featured just three times as a substitute since Paul Lambert took the reins at Molineux in November.
Lambert has made no secret of the fact that he wants to trim his squad this month following Chinese owners Fosun International's 13-player spending spree after they acquired the club last summer.
According to the Express & Star, a final decision on whether Teixeira will return to Portugal will lie with Benfica, with Wolves having previously agreed to fund his wages for the whole season.
"With Teixeira, I had to get the balance right if what we could, we've had the emergence of the young ones coming through and the team has been playing well," Lambert told the newspaper. "But again, no issues in training. There's just other ones ahead of him."
Lambert went on to reveal that contrary to reports, Cameron Borthwick-Jackson had not yet been recalled by Manchester United, while the unused striker Paul Gladon is stuck at Molineux for the rest of the season, having already played for two different teams this campaign.
"Cameron, we have to wait and see what Manchester United say because he's not been playing," he added. "Gladon has been great in training, works hard and does the things I ask him to do, it's just there's a strikeforce there in [Bright] Enobakhare, [Joe] Mason, [Jon Dadi[ Bodvarsson and [Nouha] Dicko."