Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 950,429 shares of the semiconductor company's stock after purchasing an additional 8,049 shares during the period. Rhumbline Advisers owned 0.19% of Analog Devices worth $191,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Midwest Professional Planners LTD. increased its position in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares during the period. Portland Global Advisors LLC raised its stake in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC lifted its holdings in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares during the period. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI traded up $1.01 during midday trading on Wednesday, hitting $218.45. 3,122,811 shares of the company traded hands, compared to its average volume of 3,552,712. The business has a 50 day simple moving average of $198.46 and a two-hundred day simple moving average of $210.12. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a market capitalization of $108.41 billion, a price-to-earnings ratio of 69.57, a PEG ratio of 2.85 and a beta of 1.00. 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 released 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 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 the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock repurchase 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADI shares. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Williams Trading set a $260.00 price target on Analog Devices in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price objective on Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer upped their target price on Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average target price of $248.63.

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.