Frank Rimerman Advisors LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Frank Rimerman Advisors LLC increased its holdings in Analog Devices, Inc. by 75.8% during the first quarter, representing a total value of $2.52 million for its 12,509 shares.
• Notable institutional investment activity includes GAMMA Investing LLC, which raised its holdings in Analog Devices by 25,460.1%, now owning over 2.2 million shares worth approximately $446 million.
• Analysts have a consensus rating of "Moderate Buy" for Analog Devices, with target prices reaching as high as $285 from firms like Goldman Sachs.

Frank Rimerman Advisors LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 75.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,509 shares of the semiconductor company's stock after buying an additional 5,392 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Analog Devices were worth $2,523,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Zions Bancorporation National Association UT acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $1,320,000. Nicholson Wealth Management Group LLC lifted its holdings in shares of Analog Devices by 1.0% in the 1st quarter. Nicholson Wealth Management Group LLC now owns 7,432 shares of the semiconductor company's stock valued at $1,499,000 after buying an additional 70 shares during the period. National Bank of Canada FI lifted its holdings in shares of Analog Devices by 52.5% in the 1st quarter. National Bank of Canada FI now owns 1,265,440 shares of the semiconductor company's stock valued at $255,200,000 after buying an additional 435,881 shares during the period. Telemark Asset Management LLC lifted its holdings in shares of Analog Devices by 100.0% in the 1st quarter. Telemark Asset Management LLC now owns 100,000 shares of the semiconductor company's stock valued at $20,167,000 after buying an additional 50,000 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $1,452,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated 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 approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Analog Devices Trading Up 0.4%

Shares of NASDAQ:ADI traded up $0.83 during midday trading on Friday, reaching $223.95. The company's stock had a trading volume of 3,078,240 shares, compared to its average volume of 3,431,500. The firm has a market cap of $111.13 billion, a price-to-earnings ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The business has a 50 day moving average price of $232.32 and a 200 day moving average price of $215.63.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data 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 business 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 business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

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

Analyst Upgrades and Downgrades

ADI has been the subject of several research reports. Wells Fargo & Company set a $235.00 price objective on Analog Devices and gave the stock an "equal weight" rating in a report on Monday, June 16th. Cowen reaffirmed a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Evercore ISI lifted their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. UBS Group reduced their price objective on Analog Devices from $285.00 to $280.00 and set a "buy" rating for the company in a report on Monday, July 7th. Finally, The Goldman Sachs Group initiated coverage on Analog Devices in a report on Thursday, July 10th. They set a "buy" rating and a $285.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.89.

About Analog Devices

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.