Castellan Group Buys 13,183 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Castellan Group increased its stake in Analog Devices, Inc. by 120.4% in the first quarter, acquiring an additional 13,183 shares to bring its total holdings to 24,135 shares valued at approximately $4.87 million.
• Multiple large investors, including GAMMA Investing LLC and Kovitz Investment Group, significantly increased their stakes in Analog Devices, indicating strong institutional interest with 86.81% of shares owned by institutional investors.
• Analysts' ratings for Analog Devices vary, with Cfra Research downgrading the stock to "moderate buy" while Citigroup raised their price target to $290, reflecting a consensus target price of around $258.89.

Castellan Group lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 120.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,135 shares of the semiconductor company's stock after acquiring an additional 13,183 shares during the period. Castellan Group's holdings in Analog Devices were worth $4,867,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after buying an additional 2,203,062 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after buying an additional 1,186,981 shares during the last quarter. Deutsche Bank AG grew its stake in Analog Devices by 71.0% during the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after buying an additional 896,694 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Analog Devices by 25.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after buying an additional 668,023 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Analog Devices during the 4th quarter worth $128,965,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

ADI has been the topic of several research analyst reports. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Oppenheimer boosted their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Citigroup reiterated a "buy" rating and set a $290.00 price target (up previously from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Benchmark reiterated a "buy" rating and set a $260.00 price target (down previously from $275.00) on shares of Analog Devices 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Stock Performance

NASDAQ ADI opened at $224.63 on Friday. The stock has a market capitalization of $111.47 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month 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 stock has a 50-day moving average of $231.31 and a 200 day moving average of $215.61.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The company 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%. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.8%. Analog Devices's dividend payout ratio is presently 107.90%.

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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