Wealthfront Advisers LLC Acquires 1,826 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealthfront Advisers LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,476 shares of the semiconductor company's stock after purchasing an additional 1,826 shares during the quarter. Wealthfront Advisers LLC's holdings in Analog Devices were worth $10,179,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after buying an additional 413,084 shares during the period. Geode Capital Management LLC raised its holdings in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after purchasing an additional 247,737 shares during the period. Norges Bank acquired a new stake in Analog Devices in the fourth quarter worth $1,755,958,000. FMR LLC raised its holdings in Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after purchasing an additional 61,390 shares during the period. Finally, Northern Trust Corp raised its holdings in Analog Devices by 8.4% in the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after purchasing an additional 427,328 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of ADI traded up $0.65 during midday trading on Friday, reaching $241.62. The stock had a trading volume of 707,609 shares, compared to its average volume of 3,587,658. The firm has a 50 day simple moving average of $229.40 and a 200-day simple moving average of $214.47. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.73. The firm has a market cap of $119.90 billion, a PE ratio of 65.89, a P/E/G ratio of 2.22 and a beta of 1.02. The company has a current ratio of 2.08, a quick ratio of 1.51 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 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced 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 dividend yield of 1.64%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Oppenheimer increased their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. UBS Group dropped their price objective on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a report on Monday, July 7th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. Williams Trading set a $260.00 price objective on shares of Analog Devices in a report on Friday, May 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $290.00 price target (up from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $258.89.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer owned 142,996 shares of the company's stock, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

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.