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

Peapack Gladstone Financial Corp trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,945 shares of the semiconductor company's stock after selling 2,610 shares during the period. Peapack Gladstone Financial Corp's holdings in Texas Instruments were worth $9,178,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TXN. Norges Bank bought a new position in shares of Texas Instruments during the fourth quarter worth about $2,584,490,000. Assenagon Asset Management S.A. increased its stake in 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 valued at $899,044,000 after buying an additional 4,337,295 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Texas Instruments by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company's stock valued at $4,029,115,000 after acquiring an additional 2,237,035 shares in the last quarter. Raymond James Financial Inc. bought a new position in Texas Instruments during the 4th quarter valued at $295,665,000. Finally, Van ECK Associates Corp grew its holdings in Texas Instruments by 21.8% during the fourth quarter. Van ECK Associates Corp now owns 7,513,870 shares of the semiconductor company's stock worth $1,408,925,000 after acquiring an additional 1,345,629 shares during the period. Institutional investors and hedge funds own 84.99% of the company's stock.

Insider Activity

In other news, Chairman Richard K. Templeton sold 97,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $202.72, for a total value of $19,663,840.00. Following the completion of the transaction, the chairman now directly owns 409,089 shares of the company's stock, valued at $82,930,522.08. This represents a 19.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Blinn sold 590 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $180.71, for a total value of $106,618.90. Following the sale, the director now directly owns 11,717 shares of the company's stock, valued at approximately $2,117,379.07. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,655 shares of company stock worth $59,841,304. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup dropped their price target on Texas Instruments from $235.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday. Robert W. Baird raised shares of Texas Instruments from a "neutral" rating to an "outperform" rating and set a $175.00 target price on the stock in a research report on Monday, April 7th. Mizuho reduced their price objective on shares of Texas Instruments from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Baird R W upgraded Texas Instruments from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 price target on shares of Texas Instruments in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Texas Instruments presently has a consensus rating of "Hold" and an average price target of $207.95.

Texas Instruments Stock Performance

NASDAQ TXN traded down $9.00 on Friday, hitting $147.60. 21,101,622 shares of the stock were exchanged, compared to its average volume of 6,075,826. The business's fifty day moving average is $180.26 and its 200 day moving average is $191.36. The company has a market capitalization of $134.30 billion, a PE ratio of 28.44, a P/E/G ratio of 3.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.12 and a quick ratio of 2.88. Texas Instruments Incorporated has a 52 week low of $139.95 and a 52 week high of $220.39.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.10. Texas Instruments had a return on equity of 28.08% and a net margin of 30.68%. During the same period in the prior year, the firm earned $1.49 earnings per share. Research analysts anticipate that Texas Instruments Incorporated will post 5.35 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a dividend of $1.36 per share. The ex-dividend date was Friday, January 31st. This represents a $5.44 annualized dividend and a yield of 3.69%. Texas Instruments's dividend payout ratio is currently 104.82%.

Texas Instruments Company 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.