TXN - Texas Instruments Incorporated (TXN) Bernstein's 40th Annual Strategic Decisions Conference (Transcript)
2024-05-31 12:15:28 ET
Texas Instruments Incorporated (TXN)
Bernstein's 40th Annual Strategic Decisions Conference Call
May 30, 2024, 10:00 AM ET
Company Participants
Haviv Ilan - President & Chief Executive Officer
Conference Call Participants
Stacy Rasgon - Bernstein
Presentation
Stacy Rasgon
So I guess, we will get started. Good morning, everyone. Thank you for coming today. I'm Stacy Rasgon. I'm Bernstein's senior research analyst, I cover the US semiconductor and semi-cap space. And I can't express what an honor it is to have our guest here today. Haviv Ilan, the President and CEO of Texas Instruments.
Now, before I start, I want to mention, if you have questions you'd like to ask during the presentation, there should be a QR code in your program, it links to our Pigeonhole form. You can submit questions there, and we will have time for Q&A in the end.
And so, look like I go on and on every year at this session, TI is usually here, and I always talk about the more remarkable [indiscernible] your transition story that benefited TI like over the years and they've made it look easy, they like to say that people see them as boring. I'd say that the company and the stock and the strategy have been a little less boring lately. And I want to dig into that. So to help us understand why, it's my great pleasure to welcome Haviv. So thank you so much for being with us here today.
Haviv Ilan
Thank you, Stacy, and thanks for having us.
Stacy Rasgon
You can all hear?
Haviv Ilan
Can you hear me?
Stacy Rasgon
Good. Awesome.
Haviv Ilan
Okay. Good. Thank you.
Question-and-Answer Session
Q - Stacy Rasgon
Great. So, Haviv, I want to start out, I think, I guess with the Elliott in the room. So clearly, I don't think TI has ever had an activist involved. And maybe just to start out there, can you just to level-set where we are? Can you just go over what the actual baseline plan is for your capacity and CapEx investments? And then, I want to talk a little bit about the latter itself and the case that they're kind of laying out and just get -- whatever you can say -- I don't know how much you can say at this point, but like whatever you can say, I'd love to hear your thoughts.
Haviv Ilan
So, thanks for the question, Stacy. I definitely expected it. But I can't say a lot. Just to give you the fact that we have learned about it on Tuesday morning for the first time. So, it's pretty fresh, two days in. We are, of course, reviewing the notes and definitely look forward to engage in a constructive dialogue with Elliott. I will say that, as always, we run a company and make decisions to support the company and the entire shareholders of the company. So that will continue to guide us moving forward. Now, I won't go into the details today because I think it's fair we do that -- we tell you first, but I will be happy to talk about our plans first, we can talk about the why and the whats and provide as many details if needed as you go through your questions....
Texas Instruments Incorporated (TXN) Bernstein's 40th Annual Strategic Decisions Conference (Transcript)