Harvest Fund Management Co. Ltd Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Analog Devices, Inc. by 7.4%, bringing its total shares to 31,383, valued at approximately $6.33 million as of the latest quarter.
• Several institutional investors have made significant changes to their holdings in Analog Devices, with a combined total of 86.81% of the stock owned by such investors.
• Analog Devices recently reported a quarterly earnings per share of $1.85, surpassing expectations and noted a 22.3% revenue increase year-over-year.

Harvest Fund Management Co. Ltd lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,383 shares of the semiconductor company's stock after acquiring an additional 2,175 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Analog Devices were worth $6,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in Analog Devices by 284.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock worth $6,262,000 after purchasing an additional 22,973 shares during the last quarter. Broderick Brian C raised its position in Analog Devices by 2.6% during the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP bought a new position in Analog Devices during the 4th quarter worth $10,212,000. Sowell Financial Services LLC bought a new position in Analog Devices during the 1st quarter worth $296,000. Finally, Keybank National Association OH raised its position in Analog Devices by 85.8% during the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after purchasing an additional 12,505 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.36 during trading on Wednesday, hitting $231.11. The company's stock had a trading volume of 2,320,737 shares, compared to its average volume of 3,152,955. The company has a market cap of $114.69 billion, a PE ratio of 62.97, a P/E/G ratio of 2.13 and a beta of 1.02. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $231.06 and a 200-day moving average of $215.53. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73.

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 (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADI shares. TD Cowen raised their target price on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. 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 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.