Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
FPA Crescent Fund FPA Crescent Portfolio Managers | “Analog Devices, a leading supplier of analog and mixed-signal semiconductors, benefited mostly from strong demand tied to AI infrastructure, industrial automation, and communications equipment. During the quarter, shares rose after ADI reported record quarterly results, including 37% year-over-year revenue growth, expanding margins, and management pointing to record bookings across several end markets. Investors were further encouraged by the company's announced acquisition of Empower Semiconductor (closed in early July) and guidance for continued growth into the second half of the year. ADI contributed 1.80% to trailing twelve-month performance with 3.1% average portfolio weight. The manager decreased their position during Q2 2026, reducing it to 3.4% of the portfolio.” | NEUTRAL | Q2 2026 Jul 31, 2026 | View Pitch |
Antero Peak Group Christopher Smith | “Analog Devices represents a premium analog compounder entering an upcycle with superior economics. Over half of revenues are derived from products with lifecycles exceeding 10 years, reflecting extreme switching costs and pricing power. The company targets 70%+ gross margins and 45–50% EBIT margins, supported by a hybrid manufacturing model with structurally lower capex intensity than peers. Secular drivers include industrial automation, electrification, and rising AI-related data center power and testing demand. Management expects meaningful earnings upside as pricing and margins inflect following the cycle reset. BSD Analysis: Analog Devices stands out as a high-quality compounder in the semiconductor industry, specializing in high-performance analog and mixed-signal chips. For 2026, the company is projected to see a 28% increase in earnings as industrial and automotive inventories normalize and the next demand cycle for factory automation and electric vehicles begins. ADI's chips are critical for sensing, power management, and signal conversion, making it an essential partner for the digitization of the physical world. Management's disciplined focus on innovation and operational efficiency allows the company to sustain gross margins above 60% even during periods of macro uncertainty. The investment narrative is further strengthened by a robust capital return program, including consistent dividend growth and opportunistic share buybacks. As the "edge" becomes more intelligent, ADI's technological moat in high-precision analog solutions ensures long-term pricing power and steady earnings growth.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
Madison Investors Fund Rich Eisinger, Haruki Toyama, Joe Maginot | “The stocks of both Analog Devices and Texas Instruments performed well as sales and profits at both companies turned positive. It appears that the long-awaited analog semiconductor cycle has bottomed out and we expect performance at both companies to continue to improve. BSD Analysis: Analog Devices (ADI) is an unassailable, high-growth analog semiconductor oligopolist whose premium valuation is justified by its indispensable role in Industrial, Automotive, and 5G/AI communications. The core moat is its deep trust and long-term design partnerships, which provide superior visibility and high switching costs. The company is poised for a cyclical recovery, capping a robust year with FY 2025 revenue of $11.0 billion (up 17% YoY) and Adjusted EPS of $7.79. This financial velocity allows ADI to return capital aggressively, giving back 96% of free cash flow to shareholders.” | BULL | Q2 2025 Jun 30, 2025 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
