Activist investor Elliott discloses $2.5 billion stake in Texas Instruments

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

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

Wells Fargo Reiterates Underweight Rating on Texas Instruments (TXN)

Wells Fargo analyst Gary Mobley reiterated an Underweight rating and $150.00 price target on Texas Instruments (NASDAQ: TXN).

The analyst comments "The What. CNBC reported this morning that Elliott Management has made a $2.5B investment in TXN and is urging the company to improve free cash... More

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

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

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