Scissortail Wealth Management LLC Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Scissortail Wealth Management LLC increased its holdings in Analog Devices, Inc. by 80.1% during the first quarter, owning a total of 17,679 shares valued at $3,565,000.
• Institutional investors collectively own 86.81% of Analog Devices' stock, with several firms like Vanguard Group and UBS AM also increasing their stakes during recent quarters.
• Analog Devices reported a quarterly EPS of $1.85, exceeding analysts' estimates and showing a 22.3% year-over-year revenue growth of $2.64 billion.

Scissortail Wealth Management LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 80.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,679 shares of the semiconductor company's stock after purchasing an additional 7,865 shares during the period. Scissortail Wealth Management LLC's holdings in Analog Devices were worth $3,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Vanguard Group Inc. grew its holdings in shares of Analog Devices by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company's stock worth $9,975,681,000 after acquiring an additional 359,841 shares during the period. Northern Trust Corp grew its holdings in shares of Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after acquiring an additional 427,328 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Analog Devices by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,715,313 shares of the semiconductor company's stock worth $789,356,000 after acquiring an additional 181,309 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Analog Devices by 25.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after acquiring an additional 668,023 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Analog Devices by 9.0% in the 4th quarter. Nuveen Asset Management LLC now owns 3,221,053 shares of the semiconductor company's stock worth $684,345,000 after acquiring an additional 266,532 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. Oppenheimer upped their target price on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Benchmark reaffirmed a "buy" rating and issued a $260.00 target price (down previously from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. KGI Securities initiated coverage on Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating on the stock. Finally, Stifel Nicolaus upped their target price on Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Trading Up 0.4%

ADI stock opened at $223.95 on Friday. The company has a market cap of $111.14 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 2.06 and a beta of 1.05. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $232.32 and a 200-day simple moving average of $215.72. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73.

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

Analog Devices Announces Dividend

The company also recently disclosed 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. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.

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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