Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 50.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,643 shares of the semiconductor company's stock after acquiring an additional 7,587 shares during the quarter. Analog Devices makes up approximately 0.6% of Legato Capital Management LLC's holdings, making the stock its 24th biggest holding. Legato Capital Management LLC's holdings in Analog Devices were worth $4,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ADI. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,755,958,000. GAMMA Investing LLC lifted its stake in shares of Analog Devices by 25,460.1% during the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after buying an additional 2,203,062 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after purchasing an additional 896,694 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Analog Devices by 25.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after purchasing an additional 668,023 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

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 completion of the transaction, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was 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 of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $3,327,994 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADI shares. Barclays lifted their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. TD Cowen boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KGI Securities initiated coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Finally, Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Stock Performance

Shares of ADI stock traded up $1.45 during mid-day trading on Friday, hitting $227.82. The stock had a trading volume of 2,695,595 shares, compared to its average volume of 3,271,526. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The firm has a market cap of $113.06 billion, a PE ratio of 62.08, a PEG ratio of 2.09 and a beta of 1.02. 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 company's 50-day simple moving average is $230.63 and its 200-day simple moving average is $215.26.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS 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 analysts' expectations of $2.50 billion. During the same quarter last year, the business earned $1.40 earnings per share. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

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.