Texas Capital Bancshares Inc. TX Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

Texas Capital Bancshares Inc. TX bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 3,904 shares of the semiconductor company’s stock, valued at approximately $304,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Analog Devices by 24.3% in the first quarter. Vanguard Group Inc. now owns 28,205,340 shares of the semiconductor company’s stock valued at $2,311,428,000 after buying an additional 5,506,925 shares during the last quarter. BlackRock Inc. increased its position in shares of Analog Devices by 3,292.7% in the first quarter. BlackRock Inc. now owns 23,045,295 shares of the semiconductor company’s stock valued at $1,888,562,000 after buying an additional 22,366,040 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Analog Devices by 14.4% in the first quarter. Wellington Management Group LLP now owns 18,479,225 shares of the semiconductor company’s stock valued at $1,514,372,000 after buying an additional 2,319,193 shares during the last quarter. State Street Corp increased its position in shares of Analog Devices by 20.0% in the first quarter. State Street Corp now owns 14,958,586 shares of the semiconductor company’s stock valued at $1,225,852,000 after buying an additional 2,493,568 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Analog Devices by 8.4% in the first quarter. Wells Fargo & Company MN now owns 7,957,053 shares of the semiconductor company’s stock valued at $652,081,000 after buying an additional 614,150 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Analog Devices, Inc. (NASDAQ:ADI) opened at 77.74 on Friday. Analog Devices, Inc. has a 12-month low of $59.01 and a 12-month high of $90.49. The stock has a market cap of $28.53 billion, a PE ratio of 29.77 and a beta of 1.30. The firm has a 50 day moving average of $79.05 and a 200-day moving average of $79.82.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. Analog Devices’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post $4.37 earnings per share for the current year.

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Several equities analysts recently commented on ADI shares. Stifel Nicolaus reiterated a “buy” rating and set a $97.00 price target (up from $95.00) on shares of Analog Devices in a report on Thursday, June 1st. Drexel Hamilton restated a “buy” rating and issued a $105.00 target price (up from $93.00) on shares of Analog Devices in a research note on Wednesday, May 31st. B. Riley restated a “buy” rating and issued a $103.00 target price on shares of Analog Devices in a research note on Tuesday, May 30th. Credit Suisse Group restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Friday, May 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $100.00 target price on shares of Analog Devices in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.92.

In other Analog Devices news, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the transaction, the chief executive officer now owns 61,484 shares in the company, valued at approximately $5,318,366. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Evans acquired 14,000 shares of the business’s stock in a transaction on Friday, July 7th. The shares were purchased at an average price of $78.28 per share, with a total value of $1,095,920.00. Following the transaction, the director now owns 67,540 shares in the company, valued at approximately $5,287,031.20. The disclosure for this purchase can be found here. In the last quarter, insiders sold 61,086 shares of company stock valued at $5,202,514. 1.10% of the stock is owned by insiders.

Analog Devices Company Profile

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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