Eastern Bank Has $39.66 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Eastern Bank increased its stake in Analog Devices by 6.0% in the 1st quarter, acquiring an additional 11,101 shares, bringing its total to 196,677 shares valued at $39,664,000.
• Several hedge funds have significantly adjusted their positions in Analog Devices, with Wellington Management increasing its holdings by 67.7% during the fourth quarter.
• Wall Street analysts remain optimistic about Analog Devices, with multiple firms issuing a "buy" rating and an average price target of $258.89 for the stock.

Eastern Bank raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,677 shares of the semiconductor company's stock after acquiring an additional 11,101 shares during the period. Eastern Bank's holdings in Analog Devices were worth $39,664,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake 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 valued at $446,037,000 after acquiring an additional 2,203,062 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in 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 during the last quarter. Deutsche Bank AG boosted its holdings 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 acquiring an additional 896,694 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $708,260,000 after acquiring an additional 668,023 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Analog Devices in the fourth quarter valued at about $128,965,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company's stock.

Analog Devices Price Performance

ADI stock traded down $6.48 during midday trading on Thursday, reaching $224.63. 4,943,759 shares of the stock were exchanged, compared to its average volume of 3,092,246. The stock has a market capitalization of $111.47 billion, a PE ratio of 61.21, a P/E/G ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. 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 fifty day moving average price of $231.31 and a 200 day moving average price 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 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The business's revenue was up 22.3% on a year-over-year basis. As a group, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analyst Ratings Changes

Several equities analysts have weighed in on ADI shares. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Citigroup reaffirmed a "buy" rating and set a $290.00 price target (up previously from $260.00) on shares of Analog Devices in a research report on Monday, July 7th. Cantor Fitzgerald raised Analog Devices from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $250.00 to $270.00 in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group initiated coverage on Analog Devices in a research report on Thursday, July 10th. They issued a "buy" rating and a $285.00 target price on the stock. Six equities 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 company's stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

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.