1,302 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Analog Devices, Inc., purchasing 1,302 shares valued at approximately $263,000 during the first quarter.
• Analysts have a consensus rating of Moderate Buy for Analog Devices, with a target price averaging $258.89.
• Analog Devices recently announced a quarterly dividend of $0.99 per share, resulting in an annualized dividend yield of 1.8%.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,302 shares of the semiconductor company's stock, valued at approximately $263,000.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Analog Devices by 0.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 155,865 shares of the semiconductor company's stock worth $31,433,000 after purchasing an additional 523 shares during the period. Endeavor Private Wealth Inc. increased its position in shares of Analog Devices by 1,635.1% in the 1st quarter. Endeavor Private Wealth Inc. now owns 1,631 shares of the semiconductor company's stock valued at $329,000 after purchasing an additional 1,537 shares during the last quarter. IFG Advisory LLC raised its stake in Analog Devices by 6.8% during the 1st quarter. IFG Advisory LLC now owns 13,872 shares of the semiconductor company's stock worth $2,798,000 after acquiring an additional 879 shares in the last quarter. SPC Financial Inc. boosted its holdings in shares of Analog Devices by 88.7% in the first quarter. SPC Financial Inc. now owns 2,132 shares of the semiconductor company's stock valued at $430,000 after acquiring an additional 1,002 shares during the period. Finally, UNIVEST FINANCIAL Corp grew its stake in shares of Analog Devices by 5.2% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 7,875 shares of the semiconductor company's stock valued at $1,588,000 after purchasing an additional 388 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADI. Wells Fargo & Company set a $235.00 price objective on Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Keefe, Bruyette & Woods raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Williams Trading set a $260.00 target price on Analog Devices in a report on Friday, May 23rd. Raymond James Financial upgraded Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Finally, KeyCorp raised their target price on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Trading Up 0.0%

ADI traded up $0.01 during trading on Wednesday, hitting $220.69. The company's stock had a trading volume of 2,540,194 shares, compared to its average volume of 3,414,373. 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's fifty day moving average price is $231.85 and its 200-day moving average price is $215.70. The firm has a market capitalization of $109.52 billion, a P/E ratio of 60.13, a PEG ratio of 2.03 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

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. The business 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 quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced 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. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) 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.