Pinnacle Financial Partners Inc Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Pinnacle Financial Partners Inc raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 207.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,480 shares of the semiconductor company's stock after acquiring an additional 9,100 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Analog Devices were worth $2,722,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADI. Midwest Professional Planners LTD. boosted its position in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC boosted its holdings in shares of Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Analog Devices by 14.8% during the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock valued at $89,000 after purchasing an additional 57 shares in the last quarter. Finally, Keystone Financial Services increased its holdings in shares of Analog Devices by 1.6% in the first quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock worth $765,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Analog Devices stock opened at $245.15 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. The firm has a market capitalization of $121.66 billion, a P/E ratio of 66.80, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The company's 50-day moving average is $219.06 and its 200 day moving average is $212.25.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping 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 firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The company's revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts forecast 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 was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.62%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADI. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Evercore ISI upped their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Barclays raised their target price on shares of Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Finally, Morgan Stanley lowered their price objective on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.75.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director owned 180,071 shares of the company's stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were 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 approximately $28,147,332.64. This trade represents a 6.54% 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 $3,143,556 over the last three months. Insiders own 0.33% of the company's stock.

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.

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