Texas Instruments (TXN +5.2%) shareholders like getting their money back: shares closed near...
Friday, February 22, 5:04 PM ETTexas Instruments (TXN +5.2%) shareholders like getting their money back: shares closed near their 52-week high following news of a major dividend/buyback hike. Explaining the move, TI says it believes it can consistently turn 20%-25% of revenue into free cash flow, and return all of it (minus debt payments) to shareholders. On a CC (transcript), management stated its M&A strategy will be "biased towards analog and smaller acquisitions," and that it only plans to spent 4% of revenue on capex until annual sales hit $18B (they were at $12.8B in 2012).
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