Texas Instruments CEO open to activist Elliott's free cash flow proposal
Publishing timestamp: 2024-05-30 16:03:46
Summary
Texas Instruments CEO signals openness to dialogue with activist investor Elliott, willing to consider realigning capex and free cash flow per share. Elliott has asked for reassessment of capex strategy and setting new FCF target. TI has been investing heavily in chip fabrication plants to maintain its position in analog semiconductor market, impacting FCF per share. Elliott has positive view of TI's overall business but questions growth in capex relative to expected demand. Analog semiconductors account for majority of TI's revenue.
Sentiment: NEUTRAL
Tickers: TXN,
Keywords: business news, breaking news, breaking news: business, texas instruments inc, activism, business, haviv ilan, mergers and acquisitions,
Source: https://www.cnbc.com/2024/05/30/texas-instruments-txn-activist-elliott-fcf-alignment.html