Texas Instruments CFO Rafael Lizardi Sells $15.9M in TXN Stock — Five Insiders Sell $25M

Five Texas Instruments insiders sold a combined $25.23 million in TXN stock in early February, led by CFO Rafael R. Lizardi who sold $15.88 million across three transactions. The selling comes as the semiconductor giant trades near $230 per share — elevated levels that have prompted the finance chief to take significant profits.

Five SVPs and the CFO

Insider	Title	Transactions	Value	Shares After	Career Sales
Rafael R. Lizardi	SVP & CFO	3	$15.88M	85,454	$41.4M
Mark Gary	Senior Vice President	2	$5.24M	45,547	$12.3M
Ahmad Bahai	Senior Vice President	2	$2.17M	42,488	$11.8M
Mark T. Roberts	Senior Vice President	1	$0.99M	64,058	$2.6M
Mark A. Blinn	Director	2	$0.96M	3,372	$51.0M
Total: 5 insiders, 10 transactions			$25.23M

CFO Lizardi's $41.4M Career

Lizardi has now sold $41.4 million in TXN stock over his career. His Feb 10-11 sales — $15.88M across three transactions — represent his largest recent selling window. He retains 85,454 shares worth approximately $19.7 million, meaning he's sold more than twice the value of his current holdings.

The CFO's transaction details reveal disciplined execution:

• Feb 11: 7,096 shares at $230.78 ($1.64M)
• Feb 10: 20,477 shares at $221.22 ($4.53M)
• Feb 10: Additional shares at similar prices ($9.71M)

Director Blinn: $51M Career, 3,372 Shares Left

Director Mark Blinn stands out with $51 million in career sales — the largest cumulative seller among this group — yet he's now down to just 3,372 shares (~$777K). Blinn has effectively completed a near-total exit from his TXN position, having sold 98%+ of his lifetime holdings value.

Texas Instruments at $230: Semiconductor Cycle Questions

TXN is a semiconductor bellwether. As the largest analog chip maker globally, the company's insider activity is closely watched for cyclical signals. The stock near $230 reflects recovery from the 2023-2024 inventory correction, but questions remain about:

• Whether analog chip demand has fully recovered
• Capital expenditure on new fab capacity and its ROI timeline
• Industrial and automotive end-market strength

Five insiders selling $25M worth of stock in the same week suggests the leadership team may view current prices as reflecting a full recovery — and potentially then some.

Key Takeaway

When the CFO of Texas Instruments sells $15.9M and four other senior leaders sell another $9.4M in the same week, it's a coordinated assessment of value. With $41.4M in career sales and a shrinking retained position, CFO Lizardi has been consistently monetizing through both up and down semiconductor cycles. This latest $25M selling window is one of TXN's most significant recent insider events.