Texas Instruments (TXN -0.38%) is a selection for the real-money Inflation-Protected Income Growth portfolio. In this brief video, portfolio manager Chuck Saletta offers three reasons why he's holding on to the stock despite the company's strong rise since he bought it early this year.

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To summarize:

  • Valuation -- reasonable and in line with my fair-value estimate.
  • Balance sheet -- healthy, with a low enough debt-to-equity ratio that debt rollovers shouldn't be a problem.
  • Dividend -- well covered, growing, and a decent current yield.