Wells Fargo Reiterates Underweight Rating on Texas Instruments (TXN)

Here's why Elliott's plans for Texas Instruments may be unrealistic

May 29, 2024 5:00 PM EDT

Elliott Management's recent $2.5 billion investment in Texas Instruments (NASDAQ: TXN) and its push for significant changes in the company's capital expenditure plans might be unrealistic, according to a note from Wells Fargo.

Reports today revealed that Elliott Management has made an investment in TXN... More

Deutsche Bank Comments on Texas Instruments (TXN) Letter from Elliot Investment

May 28, 2024 11:24 AM EDT

Deutsche Bank analyst Ross Seymore reiterated a Hold rating and $160.00 price target on Texas Instruments (NASDAQ: TXN).

The analyst comments "Today before the market open, a letter was published from Elliot Investment Management L.P. to TXNs board disclosing a ~$2.5B+ position in TXN and urging the board to return to refocus on free cash flow (FCF) generation via a "dynamic capacity-management strategy". The goal of this strategy would be to achieve ~$9 in... More

Elliot snatches $2.5 billion stake in Texas Instruments, proposes capex changes

May 28, 2024 10:12 AM EDT

Elliott Investment Management has invested $2.5 billion in Texas Instruments (NASDAQ: TXN) and is pushing the company to improve its free cash flow by adopting a more flexible approach to capital expenditures.

Shares in TI jumped 3% on the news, before losing the bulk of those gains. The stock was last up 0.5%.

In a 13-page letter viewed by CNBC, Elliott proposes that Texas Instruments implement a dynamic capacity-management strategy. This approach, the activist investor argues, would enable TI to achieve a free cash flow of up to $9 per share by... More

Elliott Sends Letter to the Board of Texas Instruments (TXN)

May 28, 2024 9:33 AM EDT

Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment of more than $2.5 billion in Texas Instruments (the "Company" or "TI") (NASDAQ: TXN), today sent a letter to the Board of Directors of Texas... More

Activist investor Elliott discloses $2.5 billion stake in Texas Instruments

May 28, 2024 9:23 AM EDT

(Reuters) - Activist investor Elliott Investment Management disclosed a $2.5 billion stake in analog chipmaker Texas Instruments and urged the chipmaker to improve its free cash flow.

Elliott proposed in a letter to the company's board that Texas Instruments introduce a "dynamic capacity-management strategy", which would allow it to... More

Activist Elliott takes $2.5 billion stake in Texas Instruments (TXN) - CNBC

May 28, 2024 9:08 AM EDT

(Updated - May 28, 2024 9:09 AM EDT)

Activist Elliott takes $2.5 billion stake in Texas Instruments (NASDAQ: TXN) - CNBC

The activist is urging company to improve its free cash flow by adapting a less rigid plan for capital expenditures.

... More

Chip stocks remain crowded, long crowding coming down: UBS

May 28, 2024 6:59 AM EDT

Semiconductor stocks remain highly crowded, standing about a standard deviation above their long-term trend, although long crowding has slightly decreased from last month, UBS analysts said in a Monday note.

Crowding refers to a situation where many similar market participants hold similar positions in a security, either long or short. High crowding scores indicate a risk of investors reversing their positions, with positive scores showing long-crowding and negative scores indicating short-crowding.

Within the semiconductor space,... More