Analog Devices, Inc. (NASDAQ:ADI) Stake Lifted by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly increased its stake in Analog Devices, Inc. by 2,848.4% during the first quarter, now holding 40,540 shares valued at approximately $8.17 million.
• Insider transactions revealed that Director Ray Stata and CEO Vincent Roche sold 3,125 and 10,000 shares respectively, indicating a decrease in their holdings.
• Analog Devices recently announced a quarterly dividend of $0.99 per share, resulting in an annual yield of 1.72% despite a high dividend payout ratio of 107.90%.

Picton Mahoney Asset Management increased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2,848.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,540 shares of the semiconductor company's stock after acquiring an additional 39,165 shares during the period. Picton Mahoney Asset Management's holdings in Analog Devices were worth $8,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at approximately $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $27,000. North Capital Inc. purchased a new stake in shares of Analog Devices in the 1st quarter valued at approximately $36,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of Analog Devices by 209.8% in the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 128 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the transaction, the director owned 167,571 shares in the company, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 completion of the transaction, the chief executive officer owned 142,996 shares in the company, valued at $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 a total of 16,250 shares of company stock worth $3,327,994 in the last quarter. Insiders own 0.33% of the company's stock.

Analog Devices Stock Up 1.3%

Analog Devices stock opened at $230.77 on Tuesday. The company has a market capitalization of $114.52 billion, a P/E ratio of 62.88, a P/E/G ratio of 2.10 and a beta of 1.02. The firm's fifty day simple moving average is $230.76 and its 200-day simple moving average is $215.31. 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, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73.

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, topping the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for 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 business'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. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.72%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADI shares. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and upped their price target for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Seaport Res Ptn upgraded shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research report on Monday, July 21st. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Oppenheimer upped their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Evercore ISI upped their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.89.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.