Ridgewood Investments LLC Has $920,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Ridgewood Investments LLC has increased its stake in Analog Devices, Inc. by 153.2%, acquiring an additional 2,760 shares, bringing its total holdings to 4,561 shares valued at approximately $920,000.
• Institutional investors hold 86.81% of Analog Devices' stock, with notable increases in holdings from firms like Geode Capital Management and UBS AM.
• Analysts have given mixed ratings on ADI shares, with an average rating of "Moderate Buy" and a consensus price target of $258.89.

Ridgewood Investments LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 153.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,561 shares of the semiconductor company's stock after purchasing an additional 2,760 shares during the quarter. Ridgewood Investments LLC's holdings in Analog Devices were worth $920,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices during the 4th quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in Analog Devices during the 1st quarter worth $27,000. North Capital Inc. purchased a new stake in Analog Devices during the 1st quarter worth $36,000. Finally, Wolff Wiese Magana LLC increased its stake in Analog Devices by 209.8% during the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock worth $38,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the sale, the director owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI stock traded down $6.54 on Thursday, hitting $224.57. 1,601,795 shares of the company's stock traded hands, compared to its average volume of 3,966,531. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73. The stock has a market cap of $111.44 billion, a price-to-earnings ratio of 61.25, a P/E/G ratio of 2.13 and a beta of 1.02. The stock has a fifty day moving average of $231.06 and a 200-day moving average of $215.53. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The business's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices's dividend payout ratio is currently 107.90%.

Analyst Ratings Changes

ADI has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised shares of Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. KGI Securities started coverage on shares of Analog Devices in a research note on Friday, May 23rd. They set a "buy" rating on the stock. Seaport Res Ptn raised shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.89.

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.