Texas Instruments (TXN) Rose After Lockdown Relaxation in China

Diamond Hill Capital, an investment management company, released its “Large Cap Concentrated Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -3.08% net of fees compared to a -4.61% return for the Russell 1000 Index. Holdings in the energy and technology sectors contributed to the fund’s performance, while investments in the healthcare and financial sectors underperformed in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill highlighted stocks like Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter 2022 investor letter. Headquartered in  Dallas, Texas, Texas Instruments Incorporated (NASDAQ:TXN) is a global semiconductor manufacturer. On November 15, 2022, Texas Instruments Incorporated (NASDAQ:TXN) stock closed at $177.57 per share. One-month return of Texas Instruments Incorporated (NASDAQ:TXN) was 17.20% and its shares lost 17.27% of their value over the last 52 weeks. Texas Instruments Incorporated (NASDAQ:TXN) has a market capitalization of $161.158 billion.

Diamond Hill made the following comment about Texas Instruments Incorporated (NASDAQ:TXN) in its Q3 2022 investor letter:

“Other top contributors in Q3 included health insurance company Humana, semiconductor manufacturer Texas Instruments Incorporated (NASDAQ:TXN) and home improvement retailer Home Depot. Shares of Texas Instruments outperformed as the COVID lockdowns eased in China, and customers could accept the product shipments leading to an upside in expectations.”

Texas Instruments Incorporated (NASDAQ:TXN) is not on our list of 30 Most Popular Stocks Among Hedge Funds.  As per our database, 55 hedge fund portfolios held Texas Instruments Incorporated (NASDAQ:TXN)  at the end of the second quarter, which was 46 in the previous quarter.

We discussed Texas Instruments Incorporated (NASDAQ:TXN) in another article and shared the list of biggest tech companies in the world after the 2022 stock market collapse.  In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.