Breakwater Capital Group Buys New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Breakwater Capital Group bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,233 shares of the semiconductor company's stock, valued at approximately $249,000.

Several other large investors have also recently bought and sold shares of the stock. Orion Capital Management LLC bought a new position in shares of Analog Devices in the 4th quarter valued at about $27,000. Menard Financial Group LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at about $27,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ADI shares. Barclays raised 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. KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They set a "buy" rating for the company. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Stifel Nicolaus raised their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Trading Up 1.9%

Shares of NASDAQ:ADI opened at $222.26 on Friday. The business's 50 day simple moving average is $199.58 and its 200 day simple moving average is $210.32. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market capitalization of $110.30 billion, a P/E ratio of 70.78, a P/E/G ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm 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 company posted $1.40 EPS. The company's revenue was up 22.3% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is presently 107.90%.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,934 shares of company stock valued at $8,735,156. Company 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.

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