Stevens Capital Management LP Invests $287,000 in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Stevens Capital Management LP has acquired a new position in Analog Devices, purchasing 1,421 shares valued at approximately $287,000, reflecting growing institutional interest in the semiconductor company.
• Analysts have a consensus rating of "Moderate Buy" for Analog Devices, with a target price averaging around $258.89, indicating continued confidence in the company's performance.
• CEO Vincent Roche recently sold 10,000 shares for approximately $1.97 million, marking a 6.54% decrease in his ownership, alongside similar insider selling activity from director Ray Stata.

Stevens Capital Management LP purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,421 shares of the semiconductor company's stock, valued at approximately $287,000.

A number of other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Analog Devices by 284.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock valued at $6,262,000 after acquiring an additional 22,973 shares during the last quarter. Broderick Brian C lifted its holdings in shares of Analog Devices by 2.6% during the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after acquiring an additional 2,017 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Analog Devices during the 4th quarter worth about $10,212,000. Sowell Financial Services LLC purchased a new position in shares of Analog Devices during the 1st quarter worth about $296,000. Finally, Keybank National Association OH increased its stake in Analog Devices by 85.8% during the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after acquiring an additional 12,505 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They issued a "buy" rating for the company. Cfra Research lowered Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Morgan Stanley dropped their price target on Analog Devices from $214.00 to $212.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company set a $235.00 target price on Analog Devices and gave the company an "equal weight" rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group began coverage on Analog Devices in a research report on Thursday, July 10th. They set a "buy" rating and a $285.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Price Performance

Shares of ADI traded up $0.91 on Wednesday, hitting $231.66. The company's stock had a trading volume of 421,131 shares, compared to its average volume of 3,969,855. The company has a market capitalization of $114.96 billion, a PE ratio of 63.08, a PEG ratio of 2.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The company has a 50 day moving average price of $230.88 and a 200 day moving average price of $215.42.

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, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The firm's quarterly revenue was up 22.3% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated 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 transaction, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer owned 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,250 shares of company stock valued at $3,327,994. Corporate insiders own 0.33% of the company's stock.

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.