Advisor Resource Council Takes $3.19 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Advisor Resource Council purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,137 shares of the semiconductor company's stock, valued at approximately $3,190,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Broderick Brian C increased its position in Analog Devices by 2.6% during the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP purchased a new position in Analog Devices during the 4th quarter valued at about $10,212,000. Dynamic Advisor Solutions LLC increased its position in Analog Devices by 4.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock valued at $1,224,000 after purchasing an additional 251 shares during the period. Two Sigma Investments LP purchased a new position in Analog Devices during the 4th quarter valued at about $906,000. Finally, AXA S.A. increased its position in Analog Devices by 32.1% during the 4th quarter. AXA S.A. now owns 93,608 shares of the semiconductor company's stock valued at $19,888,000 after purchasing an additional 22,726 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,934 shares of company stock valued at $5,807,196 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on ADI shares. Noble Financial raised shares of Analog Devices to an "outperform" rating in a research report on Wednesday. Wells Fargo & Company set a $235.00 price target on shares of Analog Devices and gave the company an "equal weight" rating in a report on Monday, June 16th. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and raised their price target for the company from $250.00 to $270.00 in a report on Wednesday. Benchmark restated a "buy" rating and issued a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, Oppenheimer raised their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Stock Performance

NASDAQ:ADI traded down $1.30 during mid-day trading on Friday, hitting $228.35. The company's stock had a trading volume of 5,316,062 shares, compared to its average volume of 3,580,704. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The stock has a market cap of $113.32 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 2.12 and a beta of 1.00. The business's fifty day moving average is $209.55 and its two-hundred day moving average is $211.14.

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. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is 107.90%.

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.