E Fund Management Co. Ltd. Purchases 10,157 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• E Fund Management Co. Ltd. increased its stake in Analog Devices, buying an additional 10,157 shares for a total of 26,337 shares, making its holdings worth approximately $5.31 million.
• Several brokerages upgraded their ratings and price targets for Analog Devices, with the consensus rating categorized as a "Moderate Buy" and an average price target of $258.89.
• Analog Devices announced a quarterly dividend of $0.99 per share, yielding 1.7%, despite a high payout ratio of 107.90%.

E Fund Management Co. Ltd. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,337 shares of the semiconductor company's stock after purchasing an additional 10,157 shares during the period. E Fund Management Co. Ltd.'s holdings in Analog Devices were worth $5,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Orion Capital Management LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at $27,000. Alpine Bank Wealth Management bought a new stake in shares of Analog Devices during the 1st quarter valued at $27,000. N.E.W. Advisory Services LLC bought a new stake in shares of Analog Devices during the 1st quarter valued at $33,000. Finally, North Capital Inc. bought a new position in Analog Devices in the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Down 1.9%

NASDAQ:ADI traded down $4.58 during trading hours on Friday, reaching $231.63. 3,825,918 shares of the company traded hands, compared to its average volume of 3,617,735. The business's 50-day moving average price is $233.70 and its two-hundred day moving average price is $216.28. The stock has a market capitalization of $114.95 billion, a P/E ratio of 63.11, a P/E/G ratio of 2.13 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during 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%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.7%. Analog Devices's payout ratio is currently 107.90%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company'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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup restated 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. The Goldman Sachs Group started coverage on Analog Devices in a research note on Thursday, July 10th. They issued a "buy" rating and a $285.00 target price on the stock. Cantor Fitzgerald upgraded Analog Devices from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Benchmark reiterated a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Finally, Seaport Res Ptn upgraded Analog Devices from a "strong sell" rating to a "hold" rating in a report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $258.89.

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.