LPL Financial LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• LPL Financial LLC increased its stake in Analog Devices, Inc. by 11.0%, acquiring an additional 52,416 shares and bringing its total holdings to 528,072 shares valued at approximately $106.5 million.
• Institutional investors own 86.81% of Analog Devices' stock, with several hedge funds, including Geode Capital Management and FMR LLC, also boosting their stakes recently.
• Analog Devices announced a $0.99 quarterly dividend, representing an annualized yield of 1.71%, despite having a high dividend payout ratio of 107.90%.

LPL Financial LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 528,072 shares of the semiconductor company's stock after purchasing an additional 52,416 shares during the quarter. LPL Financial LLC owned about 0.11% of Analog Devices worth $106,496,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. one8zero8 LLC raised its holdings in shares of Analog Devices by 1.9% in the 1st quarter. one8zero8 LLC now owns 9,393 shares of the semiconductor company's stock valued at $1,894,000 after purchasing an additional 175 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Analog Devices by 2.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,519 shares of the semiconductor company's stock valued at $23,902,000 after buying an additional 2,302 shares during the period. Empirical Finance LLC increased its stake in shares of Analog Devices by 1.5% in the 1st quarter. Empirical Finance LLC now owns 17,411 shares of the semiconductor company's stock valued at $3,511,000 after purchasing an additional 264 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Analog Devices by 50.7% in the 1st quarter. HB Wealth Management LLC now owns 16,393 shares of the semiconductor company's stock valued at $3,306,000 after purchasing an additional 5,518 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in shares of Analog Devices by 905.9% in the 1st quarter. Mediolanum International Funds Ltd now owns 107,449 shares of the semiconductor company's stock valued at $21,657,000 after acquiring an additional 96,767 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADI. TD Cowen increased their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. 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 target for the company. Stifel Nicolaus boosted their price objective on Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Six research 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 stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $6.48 during mid-day trading on Thursday, hitting $224.63. The company had a trading volume of 4,943,759 shares, compared to its average volume of 3,092,246. The stock's 50-day moving average price is $231.06 and its 200-day moving average price is $215.53. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The company has a market capitalization of $111.47 billion, a price-to-earnings ratio of 61.21, 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.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.64 billion during 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 firm's revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

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

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.