2,219 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,219 shares of the semiconductor company’s stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. 9258 Wealth Management LLC lifted its position in shares of Analog Devices by 3.9% during the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $588,000. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Analog Devices by 64.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,254 shares of the semiconductor company’s stock valued at $845,000 after acquiring an additional 1,672 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Analog Devices by 896.9% during the 4th quarter. Bank of Nova Scotia now owns 517,305 shares of the semiconductor company’s stock valued at $102,712,000 after acquiring an additional 465,416 shares in the last quarter. Finally, Clear Rock Advisors LLC bought a new position in Analog Devices during the fourth quarter worth $264,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total value of $6,723,000.00. Following the transaction, the executive vice president now owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The disclosure for this sale can be found here. Insiders sold a total of 61,495 shares of company stock valued at $13,904,458 over the last ninety days. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $232.05 on Friday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The firm has a market cap of $115.21 billion, a P/E ratio of 54.22, a PEG ratio of 3.75 and a beta of 1.07. The stock has a fifty day moving average price of $222.93 and a two-hundred day moving average price of $217.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business posted $2.49 earnings per share. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.59%. Analog Devices’s payout ratio is currently 85.98%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Barclays increased their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Bank of America cut their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.