New Age Alpha Advisors LLC Invests $935,000 in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• New Age Alpha Advisors LLC has made a new investment in Analog Devices, purchasing 4,637 shares valued at approximately $935,000.
• Analog Devices reported earnings of $1.85 per share, exceeding analysts' estimates of $1.70, with revenue of $2.64 billion for the quarter.
• The company declared a quarterly dividend of $0.99 per share, reflecting an annualized dividend yield of 1.8%.

New Age Alpha Advisors LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,637 shares of the semiconductor company's stock, valued at approximately $935,000.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices in the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC acquired a new position in shares of Analog Devices in the 1st quarter worth approximately $33,000. Finally, North Capital Inc. acquired a new position in shares of Analog Devices in the 1st quarter worth approximately $36,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 3.6%

Shares of Analog Devices stock traded up $7.97 on Tuesday, reaching $232.04. 4,977,968 shares of the company were exchanged, compared to its average volume of 3,955,677. The stock has a fifty day moving average price of $232.49 and a 200-day moving average price of $215.68. The firm has a market capitalization of $115.15 billion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. 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 fifty-two week low of $158.65 and a fifty-two week high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for 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 previous year, the firm earned $1.40 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's payout ratio is presently 107.90%.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction 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 transaction, the director directly owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADI. Cantor Fitzgerald upgraded Analog Devices from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $250.00 to $270.00 in a research report on Wednesday, June 18th. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. Evercore ISI boosted their price objective on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Cowen restated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

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.