KLP Kapitalforvaltning AS Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

KLP Kapitalforvaltning AS raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,321 shares of the semiconductor company's stock after acquiring an additional 6,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Analog Devices were worth $41,407,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd grew its position in Analog Devices by 201.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 15,155 shares of the semiconductor company's stock worth $3,056,000 after acquiring an additional 10,126 shares during the last quarter. PFG Advisors raised its holdings in Analog Devices by 32.3% during the 1st quarter. PFG Advisors now owns 16,521 shares of the semiconductor company's stock valued at $3,332,000 after buying an additional 4,032 shares during the last quarter. Obermeyer Wealth Partners grew its holdings in Analog Devices by 5.5% in the 1st quarter. Obermeyer Wealth Partners now owns 10,188 shares of the semiconductor company's stock worth $2,055,000 after acquiring an additional 530 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of Analog Devices by 2.1% in the first quarter. HighPoint Advisor Group LLC now owns 14,615 shares of the semiconductor company's stock valued at $2,816,000 after acquiring an additional 307 shares during the period. Finally, Crestwood Advisors Group LLC raised its stake in shares of Analog Devices by 27.4% during the first quarter. Crestwood Advisors Group LLC now owns 41,407 shares of the semiconductor company's stock valued at $8,351,000 after acquiring an additional 8,907 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $2.07 during mid-day trading on Friday, reaching $228.44. The stock had a trading volume of 1,097,993 shares, compared to its average volume of 4,002,452. The company has a market cap of $113.36 billion, a P/E ratio of 62.25, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. The business's 50 day moving average price is $230.62 and its 200 day moving average price is $215.17. 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 $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted 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 firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.73%. Analog Devices's dividend payout ratio is presently 107.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADI shares. Cantor Fitzgerald upgraded shares of Analog Devices from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Benchmark restated a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Oppenheimer upped their price target on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their target price on shares of Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a report on Friday, July 18th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 sale, the chief executive officer directly owned 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the transaction, the director directly 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 have sold 16,250 shares of company stock worth $3,327,994. 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.