Segment Wealth Management LLC Purchases 1,800 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Segment Wealth Management LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 166.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,879 shares of the semiconductor company's stock after acquiring an additional 1,800 shares during the quarter. Segment Wealth Management LLC's holdings in Analog Devices were worth $581,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group lowered their price objective on Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. TD Cowen boosted their price objective on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Cowen restated a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Finally, Stifel Nicolaus upped their price target on Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $251.75.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,934 shares of company stock worth $5,807,196 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Shares of ADI opened at $228.35 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The stock has a market capitalization of $113.32 billion, a P/E ratio of 62.22, a P/E/G ratio of 2.12 and a beta of 1.00. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company's fifty day moving average is $209.55 and its two-hundred day moving average is $211.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping 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 business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the company posted $1.40 EPS. The business's revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.