GAMMA Investing LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

GAMMA Investing LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 26.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,967 shares of the semiconductor company's stock after acquiring an additional 2,314 shares during the quarter. GAMMA Investing LLC's holdings in Analog Devices were worth $2,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Broderick Brian C boosted its stake in shares of Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after buying an additional 2,017 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Analog Devices in the 4th quarter valued at about $10,212,000. Two Sigma Investments LP purchased a new position in shares of Analog Devices in the 4th quarter valued at about $906,000. AXA S.A. boosted its stake in shares of Analog Devices by 32.1% in the 4th quarter. AXA S.A. now owns 93,608 shares of the semiconductor company's stock valued at $19,888,000 after buying an additional 22,726 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of Analog Devices by 4.3% in the 4th quarter. M&T Bank Corp now owns 432,912 shares of the semiconductor company's stock valued at $91,976,000 after buying an additional 17,858 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $3,143,556 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADI shares. Cfra Research cut Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Seaport Res Ptn raised Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. KGI Securities assumed coverage on Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Williams Trading set a $260.00 target price on Analog Devices in a research report on Friday, May 23rd. Finally, Citigroup raised their target price on Analog Devices from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $251.75.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $2.62 during midday trading on Tuesday, reaching $240.64. 3,500,630 shares of the company were exchanged, compared to its average volume of 3,587,852. The company has a current ratio of 2.08, a quick ratio of 1.51 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 $247.10. The stock has a fifty day simple moving average of $216.57 and a 200 day simple moving average of $211.82. The stock has a market cap of $119.42 billion, a P/E ratio of 65.57, a PEG ratio of 2.20 and a beta of 1.01.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly 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. 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 last year, the company posted $1.40 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

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.