Prós
Large company, lots of interesting technology. i worked on Digital Light Processing which is now commonly found in HDTVs that are on sale in retail stores. Plenty of big company benefits including a credit union (TexIns), Employee Stock Purchase Plan (ESPP), 401(k) matching funds, free healthclub membership. Pretty good educational benefits including tuition reimbursement and televised education from local colleges broadcast live into company sites. If you can navigate through the big company system, you can reap a lot of benefits/rewards.
Contras
Company is too big. You feel like just a cog in the machine. Regardless of your personal accomplishments, it's difficult to make a large impact on the company bottom line when it is such a large multinational conglomerate. The company makes the vast majority of its money in semiconductor products which end up in other products. There is little consumer name recognition for Texas Instruments aside from the ubiquitous calculators. If you want to make a name for yourself in technology or with friends/family it will be nearly impossible at Texas Instruments.