Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments Co. increased its holdings in Analog Devices, Inc. by 1.1% in Q1, owning 315,138 shares valued at approximately $65.6 million.
• Analysts have raised price targets for Analog Devices, with Oppenheimer increasing their target from $225 to $265, reflecting a generally positive outlook on the stock.
• Analog Devices recently announced a quarterly dividend of $0.99 per share, reflecting a 1.7% annualized dividend yield, although the company's dividend payout ratio stands at an unusually high 107.90%.

Sei Investments Co. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 315,138 shares of the semiconductor company's stock after purchasing an additional 3,483 shares during the period. Sei Investments Co. owned 0.06% of Analog Devices worth $65,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new position in shares of Analog Devices in the 4th quarter worth approximately $27,000. Menard Financial Group LLC purchased a new position in shares of Analog Devices in the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $33,000. Finally, North Capital Inc. purchased a new position in shares of Analog Devices in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADI. The Goldman Sachs Group began coverage on shares of Analog Devices in a report on Thursday, July 10th. They issued a "buy" rating and a $285.00 price objective on the stock. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, June 18th. KGI Securities began coverage on shares of Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating on the stock. Wells Fargo & Company set a $235.00 price objective on shares of Analog Devices and gave the company an "equal weight" rating in a report on Monday, June 16th. Finally, TD Cowen upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Performance

ADI traded down $4.58 during trading on Friday, hitting $231.63. The stock had a trading volume of 3,825,918 shares, compared to its average volume of 3,617,735. 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 firm has a market capitalization of $114.95 billion, a P/E ratio of 63.11, a PEG ratio of 2.13 and a beta of 1.05. The company's 50-day moving average price is $233.70 and its 200 day moving average price is $216.28. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Insider Activity

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

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.