Analog Devices, Inc. (NASDAQ:ADI) Holdings Raised by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. increased its stake in Analog Devices, Inc. by 9.8%, owning 86,399 shares valued at approximately $17.4 million as of its latest SEC filing.
• Several institutional investors also boosted their holdings in Analog Devices during the first quarter, reflecting a trend where institutional ownership now accounts for 86.81% of the company's stock.
• Recent analyst reports show mixed ratings for Analog Devices, with 20 buy ratings, 6 hold ratings, and 1 strong buy rating, while the consensus target price is $258.89.

Pacer Advisors Inc. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,399 shares of the semiconductor company's stock after purchasing an additional 7,690 shares during the period. Pacer Advisors Inc.'s holdings in Analog Devices were worth $17,424,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after acquiring an additional 529 shares in the last quarter. Blair William & Co. IL raised its position in shares of Analog Devices by 2.6% during the 4th quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company's stock valued at $8,957,000 after acquiring an additional 1,064 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Analog Devices by 9.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 48,196 shares of the semiconductor company's stock valued at $10,240,000 after acquiring an additional 4,339 shares in the last quarter. DnB Asset Management AS raised its position in shares of Analog Devices by 36.8% during the 4th quarter. DnB Asset Management AS now owns 124,936 shares of the semiconductor company's stock valued at $26,544,000 after acquiring an additional 33,595 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Analog Devices by 199.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 29,128 shares of the semiconductor company's stock valued at $6,189,000 after acquiring an additional 19,417 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director directly owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $3,327,994 in the last ninety days. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KGI Securities assumed coverage on Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Cfra Research downgraded Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Evercore ISI upped their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Finally, Cowen restated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Six investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $0.06 on Wednesday, hitting $230.81. The company's stock had a trading volume of 314,666 shares, compared to its average volume of 3,969,245. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a market capitalization of $114.54 billion, a price-to-earnings ratio of 62.89, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The stock's 50-day moving average is $230.88 and its two-hundred day moving average is $215.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its 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. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.72%. Analog Devices's dividend payout ratio is currently 107.90%.

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.