Riverwater Partners LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Riverwater Partners LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,577 shares of the semiconductor company's stock, valued at approximately $318,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Midwest Professional Planners LTD. grew its stake 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 valued at $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC lifted its position in shares of Analog Devices by 1.3% during 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. Cassady Schiller Wealth Management LLC boosted its stake in shares of Analog Devices by 63.2% during the fourth 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 period. Lindbrook Capital LLC grew its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after purchasing an additional 65 shares during the last quarter. Finally, Missouri Trust & Investment Co grew its holdings in shares of Analog Devices by 33.0% in the first quarter. Missouri Trust & Investment Co now owns 266 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 66 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $229.65 on Friday. The company has a market capitalization of $113.96 billion, a PE ratio of 62.58, a P/E/G ratio of 2.12 and a beta of 1.00. The company has a 50-day simple moving average of $208.56 and a two-hundred day simple moving average of $211.09. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. 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 quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 payout ratio is presently 107.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. KGI Securities started coverage on Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating on the stock. Morgan Stanley decreased their target price on Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald upgraded Analog Devices from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $250.00 to $270.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.75.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,934 shares of company stock valued at $5,807,196. Company insiders own 0.33% of the company's stock.

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.

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