North Star Investment Management Corp. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,801 shares of the semiconductor company's stock after selling 1,300 shares during the period. North Star Investment Management Corp.'s holdings in Analog Devices were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of ADI. Brighton Jones LLC grew its holdings in shares of Analog Devices by 7.0% in the 1st quarter. Brighton Jones LLC now owns 1,998 shares of the semiconductor company's stock worth $403,000 after purchasing an additional 131 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Analog Devices by 38.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 24,668 shares of the semiconductor company's stock valued at $4,975,000 after purchasing an additional 6,813 shares during the last quarter. SFM LLC acquired a new position in Analog Devices in the first quarter valued at about $218,000. Ritholtz Wealth Management grew its stake in Analog Devices by 6.1% during the first quarter. Ritholtz Wealth Management now owns 6,609 shares of the semiconductor company's stock worth $1,333,000 after buying an additional 379 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Analog Devices by 4.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock worth $1,224,000 after buying an additional 251 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on ADI. Benchmark reaffirmed a "buy" rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Wells Fargo & Company reissued a "positive" rating on shares of Analog Devices in a research note on Friday, May 23rd. Barclays boosted their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Finally, KGI Securities assumed coverage on Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and an average price target of $248.63.
Check Out Our Latest Stock Report on ADI
Analog Devices Price Performance
Analog Devices stock opened at $225.03 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $111.67 billion, a P/E ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00. The business has a 50-day moving average of $204.95 and a 200-day moving average of $210.70. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.
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, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices Announces Dividend
The firm 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 dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.76%. Analog Devices's dividend payout ratio is presently 107.90%.
Analog Devices announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling at Analog Devices
In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares in the company, 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 ninety days, insiders sold 32,934 shares of company stock valued at $6,643,956. Company insiders own 0.33% of the company's stock.
Analog Devices Profile
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Free Report)
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.
Further Reading
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