3Chopt Investment Partners LLC Makes New $410,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

3Chopt Investment Partners LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,031 shares of the semiconductor company's stock, valued at approximately $410,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after purchasing an additional 529 shares during the period. IFP Advisors Inc grew its holdings in Analog Devices by 9.6% during the 4th quarter. IFP Advisors Inc now owns 2,469 shares of the semiconductor company's stock valued at $525,000 after buying an additional 216 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Analog Devices during the fourth quarter valued at about $65,000. Flputnam Investment Management Co. increased its position in shares of Analog Devices by 4.4% during the fourth quarter. Flputnam Investment Management Co. now owns 56,879 shares of the semiconductor company's stock valued at $12,084,000 after buying an additional 2,405 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth about $11,579,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 1.9%

ADI stock traded up $4.51 during trading on Wednesday, hitting $245.15. 3,094,858 shares of the company traded hands, compared to its average volume of 4,081,550. The company has a 50-day moving average of $217.82 and a 200-day moving average of $212.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a market capitalization of $121.66 billion, a PE ratio of 66.80, a P/E/G ratio of 2.20 and a beta of 1.01.

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 (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. Analysts predict 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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating for the company. Stifel Nicolaus lifted their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Barclays upped their target price on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Finally, Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $251.75.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the transaction, the director owned 180,071 shares in the company, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $3,143,556 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.