Billionaire Richard Chilton is Selling These 5 Tech Stocks

1. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 46

Texas Instruments Incorporated (NASDAQ:TXN) is a Dallas, Texas-based technology company involved in the production of semiconductors and processing chips.

Richard Chilton sold off 95% of his stake in Texas Instruments Incorporated (NASDAQ:TXN) during Q1 2022.

In April, Mark Lipacis at Jefferies lowered the price target on Texas Instruments Incorporated (NASDAQ:TXN) from $220 to $203 but maintained a Buy rating on the stock. The reduction in price target came after Texas Instruments Incorporated (NASDAQ:TXN) guided the EPS for Q2 to be 10% lower than the consensus.

Here’s what Davis Funds said about Texas Instruments Incorporated (NASDAQ:TXN) in its Q4 2021 investor letter:

“Within technology and communication services, we own a number of online businesses and semiconductor related companies, including Alphabet, Amazon, Intel, Applied Materials and Texas Instruments. Within the realm of high technology, we believe that leadership positions reflect enduring and widening competitive advantages over smaller competitors, with few exceptions. This is because online businesses, as well as semiconductor companies, benefit from economies of scale. An online search and advertising engine will, in general, be more profitable per unit of cost as it grows larger in terms of users and advertising dollars. It is a hub-and-spoke model, in other words, where it is generally not necessary to grow expenses at the same rate that revenues grow beyond a certain threshold. Therefore, returns on capital tend to be higher, the larger and more dominant the online search company is.”

As of Q1 2022, Texas Instruments Incorporated (NASDAQ:TXN) was held by 46 hedge funds, down from 53 in the previous quarter

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