Texas Capital Bancshares Inc TX Sells 142 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Texas Capital Bancshares Inc TX lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,290 shares of the semiconductor company’s stock after selling 142 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in Analog Devices were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter worth approximately $29,000. Riverview Trust Co purchased a new position in Analog Devices in the 1st quarter worth about $30,000. ORG Partners LLC lifted its holdings in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. CVA Family Office LLC boosted its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices during the second quarter worth approximately $37,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total value of $6,723,000.00. Following the sale, the executive vice president now owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,495 shares of company stock valued at $13,904,458. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADI. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. 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 research report on Thursday, August 22nd. Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.80.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $232.05 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The company’s 50 day moving average is $222.93 and its 200 day moving average is $217.02. The company has a market cap of $115.21 billion, a PE ratio of 54.22, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07.

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

Analog Devices Announces Dividend

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

Analog Devices Profile

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.