DAVENPORT & Co LLC Has $92.49 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

DAVENPORT & Co LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 32.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 458,677 shares of the semiconductor company's stock after purchasing an additional 111,905 shares during the quarter. DAVENPORT & Co LLC owned about 0.09% of Analog Devices worth $92,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Analog Devices in the fourth quarter valued at $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices during the 4th quarter worth about $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices in the first quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth approximately $30,000. Finally, Hopwood Financial Services Inc. purchased a new position in Analog Devices during the fourth quarter worth approximately $30,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADI shares. Wells Fargo & Company set a $235.00 price objective on shares of Analog Devices and gave the stock an "equal weight" rating in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Piper Sandler decreased their target price on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, UBS Group cut their price target on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $251.75.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $4.51 on Wednesday, hitting $245.15. The company had a trading volume of 3,537,719 shares, compared to its average volume of 3,587,653. 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 current ratio of 2.08 and a quick ratio of 1.51. The company has a market cap of $121.66 billion, a PE ratio of 66.80, a PEG ratio of 2.20 and a beta of 1.01. The business has a 50-day simple moving average of $217.82 and a 200-day simple moving average of $212.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion for 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%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business'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 transaction of $1,968,400.00. Following the sale, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm'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 transaction, the director directly owned 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock valued at $3,143,556. Corporate insiders own 0.33% of the company's stock.

Analog Devices 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.