Natixis Advisors LLC Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Natixis Advisors LLC increased its holdings in Analog Devices by 18.6%, acquiring an additional 147,072 shares in the first quarter, bringing its total to 938,713 shares valued at $189.31 million.
• Analog Devices reported a 22.3% increase in quarterly revenue year-over-year, generating $2.64 billion, while earnings per share reached $1.85, exceeding analysts' expectations.
• The company recently announced a quarterly dividend of $0.99 per share, which corresponds to an annualized dividend yield of 1.72%.

Natixis Advisors LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 938,713 shares of the semiconductor company's stock after purchasing an additional 147,072 shares during the quarter. Natixis Advisors LLC owned approximately 0.19% of Analog Devices worth $189,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $27,000. Menard Financial Group LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $27,000. Alpine Bank Wealth Management bought a new position in shares of Analog Devices during the first quarter valued at $27,000. N.E.W. Advisory Services LLC bought a new position in shares of Analog Devices during the first quarter valued at $33,000. Finally, North Capital Inc. bought a new position in shares of Analog Devices during the first quarter valued at $36,000. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business'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 sale, the director owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Evercore ISI raised their target price on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices from a "strong sell" rating to a "hold" rating in a research report on Monday, July 21st. Citigroup reiterated a "buy" rating and issued a $290.00 price objective (up from $260.00) on shares of Analog Devices in a research report on Monday, July 7th. Morgan Stanley lowered their price objective on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. 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 research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Trading Down 1.3%

Analog Devices stock traded down $2.92 during trading hours on Friday, hitting $221.71. The stock had a trading volume of 3,740,478 shares, compared to its average volume of 3,267,364. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The stock has a market cap of $110.02 billion, a price-to-earnings ratio of 60.41, a P/E/G ratio of 2.07 and a beta of 1.05. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.73. The business's 50 day simple moving average is $231.31 and its 200-day simple moving average is $215.61.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The firm's revenue was up 22.3% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. Analog Devices's 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.