Peapack Gladstone Financial Corp Sells 2,610 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Peapack Gladstone Financial Corp cut its position in Texas Instruments Incorporated (NASDAQ:TXN) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,945 shares of the semiconductor company’s stock after selling 2,610 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Texas Instruments were worth $9,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Texas Instruments in the fourth quarter valued at about $2,584,490,000. Assenagon Asset Management S.A. grew its position in shares of Texas Instruments by 948.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,794,646 shares of the semiconductor company’s stock worth $899,044,000 after purchasing an additional 4,337,295 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Texas Instruments by 11.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company’s stock worth $4,029,115,000 after purchasing an additional 2,237,035 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Texas Instruments during the fourth quarter worth approximately $295,665,000. Finally, Van ECK Associates Corp raised its position in shares of Texas Instruments by 21.8% in the fourth quarter. Van ECK Associates Corp now owns 7,513,870 shares of the semiconductor company’s stock valued at $1,408,925,000 after buying an additional 1,345,629 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on TXN shares. Mizuho lowered their price objective on Texas Instruments from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Texas Instruments in a research note on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on shares of Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Barclays dropped their target price on shares of Texas Instruments from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, Truist Financial reduced their price target on shares of Texas Instruments from $199.00 to $195.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $209.20.

Texas Instruments Stock Performance

Shares of TXN stock opened at $151.39 on Monday. The firm has a market capitalization of $137.75 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 3.30 and a beta of 0.99. The company has a current ratio of 4.12, a quick ratio of 2.88 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $184.06 and its 200-day moving average price is $193.60. Texas Instruments Incorporated has a 12 month low of $144.22 and a 12 month high of $220.39.

Texas Instruments (NASDAQ:TXN) last posted its earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. Texas Instruments had a net margin of 30.68% and a return on equity of 28.08%. During the same quarter last year, the business posted $1.49 EPS. Equities research analysts forecast that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Friday, January 31st. Texas Instruments’s dividend payout ratio is currently 104.82%.

Insiders Place Their Bets

In other news, Chairman Richard K. Templeton sold 97,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $197.69, for a total transaction of $19,175,930.00. Following the completion of the sale, the chairman now directly owns 409,089 shares in the company, valued at $80,872,804.41. This represents a 19.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Blinn sold 590 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $180.71, for a total transaction of $106,618.90. Following the completion of the transaction, the director now owns 11,717 shares in the company, valued at approximately $2,117,379.07. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 297,655 shares of company stock valued at $59,841,304. 0.57% of the stock is currently owned by company insiders.

Texas Instruments Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.