Exchange Traded Concepts LLC Purchases 6,813 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Exchange Traded Concepts LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 38.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 24,668 shares of the semiconductor company's stock after acquiring an additional 6,813 shares during the quarter. Exchange Traded Concepts LLC's holdings in Analog Devices were worth $4,975,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Midwest Professional Planners LTD. raised its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its position in Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after acquiring an additional 53 shares in the last quarter. NTV Asset Management LLC lifted its holdings in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 shares during the period. Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $225.03 on Monday. The company has a market cap of $111.67 billion, a P/E ratio of 71.67, a P/E/G ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company's 50-day moving average price is $204.95 and its 200-day moving average price is $210.70. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue was up 22.3% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,934 shares of company stock valued at $6,643,956. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. TD Cowen upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Evercore ISI increased their target price on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Cowen restated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Finally, Cantor Fitzgerald upped their price target on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average price target of $248.63.

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.

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