Peapack Gladstone Financial Corp Buys 703 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Peapack Gladstone Financial Corp grew its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 50,258 shares of the semiconductor company’s stock after purchasing an additional 703 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Texas Instruments were worth $8,567,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TXN. Tennessee Valley Asset Management Partners purchased a new position in shares of Texas Instruments in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new position in shares of Texas Instruments in the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Texas Instruments in the fourth quarter worth $31,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Texas Instruments in the fourth quarter worth $34,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Texas Instruments in the fourth quarter worth $37,000. 84.99% of the stock is owned by institutional investors.

Texas Instruments Price Performance

Shares of NASDAQ TXN traded down $1.29 during mid-day trading on Monday, reaching $193.72. The company’s stock had a trading volume of 4,152,693 shares, compared to its average volume of 5,689,028. The firm has a market capitalization of $176.38 billion, a PE ratio of 30.42, a P/E/G ratio of 4.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.91 and a quick ratio of 3.76. The stock has a fifty day moving average of $179.82 and a two-hundred day moving average of $169.77. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $206.00.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the company earned $1.85 earnings per share. The firm’s revenue was down 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Texas Instruments Incorporated will post 5.13 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Tuesday, May 7th. Texas Instruments’s payout ratio is presently 81.12%.

Insider Activity at Texas Instruments

In other Texas Instruments news, Chairman Richard K. Templeton sold 104,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $178.68, for a total transaction of $18,582,720.00. Following the sale, the chairman now directly owns 403,851 shares in the company, valued at $72,160,096.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Texas Instruments news, Chairman Richard K. Templeton sold 104,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $178.68, for a total transaction of $18,582,720.00. Following the sale, the chairman now directly owns 403,851 shares in the company, valued at $72,160,096.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela H. Patsley sold 9,990 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $179.12, for a total value of $1,789,408.80. Following the sale, the director now owns 33,348 shares in the company, valued at $5,973,293.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,969 shares of company stock valued at $58,427,984. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TXN. Truist Financial upped their price objective on Texas Instruments from $165.00 to $167.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Benchmark reiterated a “buy” rating and set a $210.00 price objective on shares of Texas Instruments in a research report on Wednesday, April 24th. Evercore ISI upped their price objective on Texas Instruments from $213.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group upped their price objective on Texas Instruments from $137.00 to $157.00 and gave the company a “sell” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group cut Texas Instruments from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $175.00 in a research report on Monday, May 13th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $182.48.

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.