Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Hemenway Trust Co LLC

Hemenway Trust Co LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,215 shares of the semiconductor company's stock after buying an additional 7,247 shares during the period. Analog Devices accounts for approximately 3.2% of Hemenway Trust Co LLC's investment portfolio, making the stock its 11th largest holding. Hemenway Trust Co LLC's holdings in Analog Devices were worth $38,966,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADI. Norges Bank acquired a new stake in Analog Devices in the fourth quarter worth $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices in the fourth quarter worth $833,386,000. Proficio Capital Partners LLC grew its stake in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Analog Devices by 25,460.1% in the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after purchasing an additional 2,203,062 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Analog Devices by 301.1% in 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 in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Evercore ISI increased their price target on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Citigroup increased their price target on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Williams Trading set a $260.00 price target on Analog Devices in a research note on Friday, May 23rd. Finally, TD Cowen increased their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $250.50.

Analog Devices Trading Down 1.9%

Shares of ADI stock opened at $227.44 on Wednesday. The stock has a 50-day simple moving average of $206.88 and a 200 day simple moving average of $210.92. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The stock has a market capitalization of $112.87 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.14 and a beta of 1.00. 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 earnings results 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 return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.40 earnings per share. Analog Devices's revenue was up 22.3% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,934 shares of company stock valued at $5,807,196 over the last three months. 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.

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