Texas Instruments: Strong Franchise, Slow Recovery

Core Insights - Texas Instruments Incorporated (NASDAQ: TXN) has experienced an 8.3% decline since July 24, underperforming the S&P 500 during the same period [1] Company Analysis - The previous investment thesis focused on the potential of Texas Instruments, indicating a need for further evaluation given the recent performance [1] Analyst Background - The analyst has 10 years of experience in investment banking, specializing in industry and company research, with a strong focus on technology sectors such as semiconductors, robotics, and energy [1] - The analyst holds a degree in Mechanical Engineering and has completed CFA Level II in 2024, indicating a solid educational background in finance and engineering [1] Investment Philosophy - The investment approach emphasizes growth at a reasonable price, targeting companies in oligopolistic sectors with high barriers to entry, while avoiding smaller companies due to perceived risks [1]