Texas Bank & Trust Co Takes $1.93 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Texas Bank & Trust Co acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,067 shares of the semiconductor company's stock, valued at approximately $1,926,000.

Several other large investors have also modified their holdings of ADI. Tidal Investments LLC lifted its position in shares of Analog Devices by 106.3% in the fourth quarter. Tidal Investments LLC now owns 50,148 shares of the semiconductor company's stock worth $10,654,000 after buying an additional 25,834 shares during the last quarter. Tolleson Wealth Management Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth about $297,000. Stonebrook Private Inc. lifted its position in shares of Analog Devices by 34.1% in the fourth quarter. Stonebrook Private Inc. now owns 9,789 shares of the semiconductor company's stock worth $2,080,000 after buying an additional 2,487 shares during the last quarter. Tema Etfs LLC acquired a new position in shares of Analog Devices during the 4th quarter worth about $406,000. Finally, Toronto Dominion Bank lifted its position in shares of Analog Devices by 9.6% during the 4th quarter. Toronto Dominion Bank now owns 299,891 shares of the semiconductor company's stock worth $63,714,000 after purchasing an additional 26,155 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Lake Street Capital assumed coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Cantor Fitzgerald increased their price target on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday. Oppenheimer increased their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.35.

Analog Devices Trading Down 1.0%

ADI stock traded down $2.27 during midday trading on Wednesday, hitting $222.22. 5,084,834 shares of the company's stock were exchanged, compared to its average volume of 3,526,119. The stock's fifty day moving average price is $197.36 and its 200-day moving average price is $210.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $110.22 billion, a PE ratio of 70.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 over the last three months. Corporate insiders own 0.33% of the company's stock.

Analog Devices Company 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.