Assetmark Inc. Reduces Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Assetmark Inc. has reduced its stake in Texas Instruments by 19.7%, selling 55,354 shares during the first quarter, bringing its total holdings to 225,966 shares valued at $40.6 million.
• Texas Instruments reported a 16.4% increase in revenue year over year, with earnings per share of $1.41, exceeding analysts' expectations of $1.32.
• The company announced a quarterly dividend of $1.36 per share, reflecting an annualized dividend of $5.44 and a dividend yield of 2.94%.

Assetmark Inc. lessened its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,966 shares of the semiconductor company's stock after selling 55,354 shares during the period. Assetmark Inc.'s holdings in Texas Instruments were worth $40,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Texas Instruments by 33.4% in the fourth quarter. Brighton Jones LLC now owns 16,840 shares of the semiconductor company's stock valued at $3,158,000 after buying an additional 4,218 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Texas Instruments by 14.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 138,350 shares of the semiconductor company's stock valued at $25,942,000 after purchasing an additional 17,840 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Texas Instruments by 4.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 627,292 shares of the semiconductor company's stock valued at $117,624,000 after purchasing an additional 25,199 shares during the last quarter. Sava Infond d.o.o. acquired a new position in Texas Instruments in the 4th quarter valued at about $248,000. Finally, AssuredPartners Investment Advisors LLC acquired a new position in Texas Instruments in the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 84.99% of the company's stock.

Texas Instruments Price Performance

TXN stock traded down $2.01 during trading on Wednesday, reaching $189.37. 1,162,191 shares of the company were exchanged, compared to its average volume of 7,353,146. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81. The stock's 50 day moving average price is $200.37 and its 200 day moving average price is $185.46. Texas Instruments Incorporated has a 52-week low of $139.95 and a 52-week high of $221.69. The company has a market cap of $172.04 billion, a P/E ratio of 34.68, a PEG ratio of 3.10 and a beta of 1.03.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. Texas Instruments had a net margin of 30.23% and a return on equity of 30.10%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $1.17 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts predict that Texas Instruments Incorporated will post 5.35 earnings per share for the current fiscal year.

Texas Instruments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Thursday, July 31st will be given a $1.36 dividend. The ex-dividend date is Thursday, July 31st. This represents a $5.44 annualized dividend and a dividend yield of 2.87%. Texas Instruments's dividend payout ratio is presently 99.63%.

Wall Street Analyst Weigh In

TXN has been the topic of several recent analyst reports. Susquehanna decreased their target price on shares of Texas Instruments from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Tuesday, July 22nd. Arete started coverage on shares of Texas Instruments in a research note on Thursday, June 26th. They issued a "neutral" rating and a $203.80 price target on the stock. DZ Bank reissued a "sell" rating and issued a $158.00 price target on shares of Texas Instruments in a research note on Wednesday, July 23rd. Stifel Nicolaus boosted their price target on shares of Texas Instruments from $160.00 to $192.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Finally, Cowen reissued a "hold" rating on shares of Texas Instruments in a research note on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $212.21.

About Texas Instruments

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.