Texas Instruments Incorporated (TXN) Hedge Funds Are Snapping Up

With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Millennium Management, managed by Israel Englander, established the biggest CALL position in Texas Instruments Incorporated (NASDAQ:TXN). Millennium Management had $29.7 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $17.8 million position during the quarter. The following funds were also among the new TXN investors: Daniel Benton’s Andor Capital Management, and Louis Bacon’s Moore Global Investments.

Let’s now take a look at hedge fund activity in other stocks similar to Texas Instruments Incorporated (NASDAQ:TXN). We will take a look at BHP Billiton Limited (ADR) (NYSE:BHP), Time Warner Cable Inc (NYSE:TWC), Occidental Petroleum Corporation (NYSE:OXY), and Enterprise Products Partners L.P. (NYSE:EPD). All of these stocks’ market caps match Texas Instruments Incorporated (NASDAQ:TXN)’s market cap.

As you can see, these stocks had an average of 48 hedge funds with bullish positions and the average amount invested in these stocks was $4.47 billion. That figure was $710 million in Texas Instruments Incorporated (NASDAQ:TXN)’s case. Time Warner Cable Inc (NYSE:TWC) is the most popular stock in this table. On the other hand, BHP Billiton Limited (ADR) (NYSE:BHP) is the least popular one with only 20 bullish hedge fund positions. Texas Instruments Incorporated (NASDAQ:TXN) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Time Warner Cable Inc (NYSE:TWC) might be a better candidate to consider a long position.