Assetmark Inc. Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Assetmark Inc. has increased its stake in Analog Devices, Inc. by 12.8%, owning a total of 89,563 shares valued at approximately $18,062,000.
• Several large institutional investors have also significantly boosted their holdings in Analog Devices, with GAMMA Investing LLC increasing its position by a staggering 25,460.1%.
• Analog Devices recently declared a quarterly dividend of $0.99, resulting in an annualized yield of 1.74% and a dividend payout ratio of 107.90%.

Assetmark Inc. boosted its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,563 shares of the semiconductor company's stock after acquiring an additional 10,177 shares during the period. Assetmark Inc.'s holdings in Analog Devices were worth $18,062,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock worth $397,000 after purchasing an additional 529 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Analog Devices by 2.6% in the 4th quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company's stock valued at $8,957,000 after acquiring an additional 1,064 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Analog Devices by 9.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 48,196 shares of the semiconductor company's stock valued at $10,240,000 after acquiring an additional 4,339 shares during the last quarter. DnB Asset Management AS increased its holdings in Analog Devices by 36.8% during the 4th quarter. DnB Asset Management AS now owns 124,936 shares of the semiconductor company's stock valued at $26,544,000 after purchasing an additional 33,595 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in Analog Devices by 199.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 29,128 shares of the semiconductor company's stock valued at $6,189,000 after purchasing an additional 19,417 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 0.2%

Analog Devices stock traded up $0.44 during trading on Wednesday, hitting $231.19. The company had a trading volume of 269,127 shares, compared to its average volume of 3,968,774. 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. The company's 50 day simple moving average is $230.88 and its 200-day simple moving average is $215.42. The stock has a market cap of $114.73 billion, a price-to-earnings ratio of 62.94, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly 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 business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.71%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Seaport Res Ptn upgraded Analog Devices from a "strong sell" rating to a "hold" rating in a report on Monday, July 21st. Barclays upped their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Raymond James Financial upgraded Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. KeyCorp raised their target price on Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the business'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 directly owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. 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 the business's 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 transaction, the chief executive officer owned 142,996 shares in the company, 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. Over the last three months, insiders sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is owned by corporate insiders.

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.