University of Texas Texas AM Investment Management Co. Takes $1.86 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• The University of Texas Texas AM Investment Management Co. invested approximately $1.86 million in Analog Devices, acquiring 9,203 shares in the first quarter of the year.
• Institutional investors now hold 86.81% of Analog Devices' stock, with notable increases from several investors in recent quarters including GAMMA Investing LLC, which raised its position by 25,460.1%.
• Analysts have a consensus rating of "Moderate Buy" for Analog Devices, with a target price of $258.89, reflecting optimism about the company's growth potential.

University of Texas Texas AM Investment Management Co. bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,203 shares of the semiconductor company's stock, valued at approximately $1,856,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the fourth quarter valued at $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices during the 1st quarter valued at about $27,000. North Capital Inc. purchased a new position in shares of Analog Devices during the 1st quarter valued at about $36,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of Analog Devices by 209.8% during the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after buying an additional 128 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and issued a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Noble Financial raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Stifel Nicolaus increased their price objective on shares of Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Evercore ISI increased their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Price Performance

Shares of ADI traded down $6.60 during trading hours on Thursday, reaching $224.51. The company had a trading volume of 1,191,179 shares, compared to its average volume of 3,963,649. The firm has a 50 day simple moving average of $231.06 and a 200-day simple moving average of $215.53. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $111.41 billion, a price-to-earnings ratio of 61.19, a PEG ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $1.40 EPS. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director directly owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

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.