Concurrent Investment Advisors LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Concurrent Investment Advisors LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 29.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,821 shares of the semiconductor company's stock after acquiring an additional 5,711 shares during the period. Concurrent Investment Advisors LLC's holdings in Analog Devices were worth $5,006,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADI. Norges Bank purchased a new stake in Analog Devices during the 4th quarter valued at approximately $1,755,958,000. GAMMA Investing LLC lifted its position in shares of Analog Devices by 25,460.1% during the first quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock worth $446,037,000 after purchasing an additional 2,203,062 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after acquiring an additional 1,186,981 shares in the last quarter. Deutsche Bank AG grew its stake in Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after purchasing an additional 896,694 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Analog Devices by 25.1% in the fourth 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 purchasing an additional 668,023 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADI. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. UBS Group dropped their price target on shares of Analog Devices from $285.00 to $280.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company set a $235.00 price target on shares of Analog Devices and gave the company an "equal weight" rating in a research note on Monday, June 16th. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Cowen reaffirmed a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $253.31.

Analog Devices Trading Down 1.6%

NASDAQ:ADI traded down $3.87 on Monday, reaching $241.81. 2,783,358 shares of the company's stock were exchanged, compared to its average volume of 3,596,106. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The firm has a market capitalization of $120.00 billion, a price-to-earnings ratio of 65.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $221.10 and a 200-day moving average of $212.75.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company'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 transaction of $612,000.00. Following the completion of the sale, the director owned 180,071 shares in the company, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares of the company's stock, 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 16,250 shares of company stock valued at $3,143,556 over the last three months. Corporate insiders own 0.33% of the company's stock.

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.