NorthCrest Asset Manangement LLC Acquires 2,121 Shares of Analog Devices, Inc. (NASDAQ:ADI)

NorthCrest Asset Manangement LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,322 shares of the semiconductor company's stock after buying an additional 2,121 shares during the period. NorthCrest Asset Manangement LLC's holdings in Analog Devices were worth $22,047,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Broderick Brian C boosted its position in Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares during the period. Freestone Grove Partners LP bought a new position in Analog Devices during the fourth quarter worth about $10,212,000. CIBC Asset Management Inc boosted its position in Analog Devices by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock worth $38,928,000 after purchasing an additional 3,529 shares during the period. Two Sigma Investments LP bought a new position in Analog Devices during the fourth quarter worth about $906,000. Finally, Hickory Asset Management Inc. bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $366,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cowen restated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Barclays raised their price objective on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Citigroup raised their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, KGI Securities began coverage on shares of Analog Devices in a research report on Friday, May 23rd. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,934 shares of company stock valued at $6,643,956 over the last three months. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

Shares of ADI stock traded down $7.09 during trading hours on Friday, hitting $225.03. 3,349,531 shares of the company's stock were exchanged, compared to its average volume of 3,571,691. The company has a market capitalization of $111.67 billion, a PE ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The business's 50 day simple moving average is $203.77 and its 200-day simple moving average is $210.75. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate 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 16.75% and a return on equity of 8.91%. The business's revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, June 4th. Analog Devices's payout ratio is 107.90%.

Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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.