Banque Pictet & Cie 13F: Cuts TXN Stake by $188M

Banque Pictet & Cie disclosed a reduction in its position in Texas Instruments Incorporated (NASDAQ: TXN) in a filing on October 16, 2026. The fund cut its stake by 669,453 shares, a decrease of 44.2%, leaving it with 844,012 shares valued at approximately $236.4 million.

What Changed in Banque Pictet & Cie's Texas Instruments Position

Banque Pictet & Cie reduced its holdings in Texas Instruments by 669,453 shares, bringing its total down to 844,012 shares. The reported value of this position is about $236.4 million.

Other Institutional Activity in Texas Instruments

Several other institutional investors have also been active in Texas Instruments. BlackRock Inc. grew its holdings by 1,043,355 shares, ending with 82,555,483 shares worth approximately $22.8 billion. Vanguard Capital Management LLC added 460,056 shares, bringing its total to 59,441,598 shares valued at around $16.4 billion. State Street Corporation increased its position by 1,374,224 shares, totaling 44,453,341 shares worth about $12.3 billion. Invesco Ltd. gained 517,907 shares, holding 37,777,410 shares now valued at approximately $10.4 billion. However, JPMorgan Chase & Co. sold off 5,934,059 shares, reducing its stake to 32,449,245 shares worth about $8.97 billion.

Texas Instruments Incorporated Stock Down 0.4%

As of October 16, 2026, Texas Instruments traded recently around $279.58, which is above its 50-day moving average by 2.7% and its 200-day moving average by 10.2%. However, the stock is below its 52-week high by 16.3%. This performance reflects a mixed sentiment from investors in light of Banque Pictet's recent decision to trim its position.

Recent Earnings

Texas Instruments reported a trailing twelve-month revenue of $19.5 billion, showing a year-over-year growth of 22.8%. The company's net margin stands at 31.1%, and its return on equity is at 35.2%. Next, the company is set to release its earnings on October 21, 2026.

Insider Buying and Selling at Texas Instruments Incorporated

In recent insider trades, Chief Financial Officer Rafael R. Lizardi sold 47,734 shares on May 14, 2026, valued at about $14.7 million. Officer Ahmad Bahai sold 5,000 shares for approximately $1.5 million on the same day. Director Martin S. Craighead sold 10,000 shares valued at about $3.2 million on May 28, 2026. Officer Tsedeniya Abraham also sold 7,000 shares valued at around $1.9 million on August 27, 2026.

Analysts Set New Price Targets

On July 23, 2026, Bernstein maintained a "Market Perform" rating with a price target of $290. JP Morgan also maintained an "Overweight" rating with a target of $340. Morgan Stanley kept its "Underweight" rating, lowering its target to $255. Rosenblatt maintained a "Buy" rating with a price target of $350. Cantor Fitzgerald reiterated its "Neutral" rating with a target of $340.

About Texas Instruments

Texas Instruments designs and sells semiconductors to electronics manufacturers globally. It operates through segments focusing on Analog and Embedded Processing. The company's recent stake adjustments by Banque Pictet could reflect changing perspectives on the semiconductor market.

Bottom Line

Investors should watch for Texas Instruments' upcoming earnings report on October 21, 2026, and any shifts in institutional holdings that may arise from ongoing market dynamics. The filing reflects positions as of the reporting period, and may not represent the investor's current stance. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.