Hennion & Walsh Asset Management Inc. Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

Hennion & Walsh Asset Management Inc. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,461 shares of the semiconductor company's stock after acquiring an additional 2,883 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Analog Devices were worth $10,176,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Whipplewood Advisors LLC increased its holdings in Analog Devices by 102.0% during the 1st quarter. Whipplewood Advisors LLC now owns 618 shares of the semiconductor company's stock valued at $125,000 after purchasing an additional 312 shares in the last quarter. Bourgeon Capital Management LLC increased its holdings in shares of Analog Devices by 17.9% in the first quarter. Bourgeon Capital Management LLC now owns 11,859 shares of the semiconductor company's stock valued at $2,392,000 after purchasing an additional 1,800 shares in the last quarter. RFG Advisory LLC raised its position in shares of Analog Devices by 3.8% during the first quarter. RFG Advisory LLC now owns 2,151 shares of the semiconductor company's stock worth $434,000 after acquiring an additional 79 shares during the last quarter. Fulton Bank N.A. raised its holdings in Analog Devices by 4.9% during the 1st quarter. Fulton Bank N.A. now owns 2,094 shares of the semiconductor company's stock worth $422,000 after purchasing an additional 98 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in Analog Devices by 61.5% during the 1st quarter. Merit Financial Group LLC now owns 9,331 shares of the semiconductor company's stock valued at $1,882,000 after purchasing an additional 3,555 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Wells Fargo & Company reiterated a "positive" rating on shares of Analog Devices in a report on Friday, May 23rd. Stifel Nicolaus lifted their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley dropped their price objective on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, Cfra Research cut Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Stock Performance

Shares of ADI traded up $0.07 during mid-day trading on Wednesday, hitting $218.50. 4,199,243 shares of the company's stock were exchanged, compared to its average volume of 3,556,540. The stock's 50-day simple moving average is $198.46 and its 200-day simple moving average is $210.12. The firm has a market cap of $108.43 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.81%. Analog Devices's payout ratio is presently 107.90%.

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the business's 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 now directly owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,934 shares of company stock valued at $8,735,156. Insiders own 0.33% of the company's stock.

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.