State of New Jersey Common Pension Fund D Sells 26,457 Shares of Texas Instruments Incorporated $TXN

Key Points

• The State of New Jersey Common Pension Fund D has reduced its position in Texas Instruments by 7.9% in the first quarter, resulting in ownership of 306,847 shares valued at approximately $55.1 million.
• Texas Instruments reported a 16.4% revenue increase year-over-year, with earnings of $1.41 per share for the latest quarter, surpassing analyst expectations.
• Analyst ratings for Texas Instruments show a mixed sentiment, with an average rating of "Hold" and a target price of $212.21, reflecting both buy and sell recommendations from various research firms.

State of New Jersey Common Pension Fund D reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,847 shares of the semiconductor company's stock after selling 26,457 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Texas Instruments were worth $55,140,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TXN. Cloud Capital Management LLC purchased a new stake in shares of Texas Instruments in the first quarter worth about $28,000. Copia Wealth Management acquired a new stake in Texas Instruments in the 4th quarter valued at approximately $30,000. Dagco Inc. acquired a new stake in Texas Instruments during the first quarter valued at approximately $32,000. Quintet Private Bank Europe S.A. bought a new position in shares of Texas Instruments in the first quarter worth about $34,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $41,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXN has been the subject of several research analyst reports. Summit Insights cut shares of Texas Instruments from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Citigroup reaffirmed a "buy" rating on shares of Texas Instruments in a research note on Tuesday, July 22nd. Seaport Res Ptn raised Texas Instruments from a "strong sell" rating to a "hold" rating in a report on Monday, July 21st. Susquehanna lowered their price target on shares of Texas Instruments from $250.00 to $240.00 and set a "positive" rating for the company in a research report on Tuesday, July 22nd. Finally, Barclays downgraded shares of Texas Instruments from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $180.00 to $125.00 in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Texas Instruments presently has an average rating of "Hold" and an average target price of $212.21.

Texas Instruments Trading Up 0.4%

Shares of NASDAQ TXN traded up $0.86 during midday trading on Friday, hitting $194.57. 5,871,480 shares of the company traded hands, compared to its average volume of 8,377,313. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $221.69. The firm has a market cap of $176.89 billion, a P/E ratio of 35.64, a P/E/G ratio of 3.18 and a beta of 1.03. The stock has a 50-day moving average price of $201.16 and a 200 day moving average price of $185.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81.

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

Texas Instruments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st were given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Texas Instruments's dividend payout ratio (DPR) is presently 99.63%.

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.