CHURCHILL MANAGEMENT Corp Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,883 shares of the semiconductor company's stock, valued at approximately $8,648,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Analog Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares in the last quarter. Norges Bank bought a new stake in shares of Analog Devices during the 4th quarter worth $1,755,958,000. FMR LLC lifted its holdings in shares of Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the last quarter. Finally, Northern Trust Corp grew its position in Analog Devices by 8.4% in the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after acquiring an additional 427,328 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 1.1%

Shares of NASDAQ ADI traded up $2.62 during mid-day trading on Tuesday, hitting $240.64. 3,500,630 shares of the stock traded hands, compared to its average volume of 3,582,751. The company has a market cap of $119.42 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 2.19 and a beta of 1.00. The stock has a fifty day moving average price of $216.57 and a 200-day moving average price of $211.82. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

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 analysts' consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 EPS. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.65%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $3,143,556. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KGI Securities began coverage on Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $250.00 to $270.00 in a report on Wednesday, June 18th. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Barclays boosted their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average target price of $251.75.

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.