Banque Cantonale Vaudoise Invests $5.62 Million in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Banque Cantonale Vaudoise acquired 27,851 shares of Analog Devices, Inc. valued at approximately $5.6 million, indicating growing interest from institutional investors in the semiconductor sector.
• Analog Devices reported a quarterly earnings per share of $1.85, exceeding analyst expectations, and marked a 22.3% increase in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.99, with a yield of 1.72%, despite a high dividend payout ratio of 107.90%.

Banque Cantonale Vaudoise purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,851 shares of the semiconductor company's stock, valued at approximately $5,616,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. N.E.W. Advisory Services LLC acquired a new stake in shares of Analog Devices in the first quarter valued at approximately $33,000. TCTC Holdings LLC boosted its stake in Analog Devices by 1.2% in the 1st quarter. TCTC Holdings LLC now owns 54,727 shares of the semiconductor company's stock worth $11,037,000 after purchasing an additional 664 shares during the period. Meeder Advisory Services Inc. lifted its position in Analog Devices by 10.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 14,545 shares of the semiconductor company's stock worth $2,933,000 after buying an additional 1,336 shares in the last quarter. Picton Mahoney Asset Management lifted its position in Analog Devices by 2,848.4% in the 1st quarter. Picton Mahoney Asset Management now owns 40,540 shares of the semiconductor company's stock worth $8,175,000 after buying an additional 39,165 shares in the last quarter. Finally, Purkiss Capital Advisors LLC raised its holdings in shares of Analog Devices by 21.1% during the 1st quarter. Purkiss Capital Advisors LLC now owns 1,167 shares of the semiconductor company's stock valued at $235,000 after purchasing an additional 203 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Morgan Stanley reduced their price target on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and issued a $290.00 target price (up from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. Finally, Evercore ISI boosted their price target on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $3.17 during trading hours on Friday, reaching $221.46. 2,435,947 shares of the stock traded hands, compared to its average volume of 3,979,281. The company has a 50 day moving average price of $231.31 and a 200 day moving average price of $215.61. The firm has a market capitalization of $109.90 billion, a price-to-earnings ratio of 60.44, a P/E/G ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.73. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.