Summit Global Investments Purchases Shares of 4,734 Analog Devices, Inc. (NASDAQ:ADI)

Summit Global Investments acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,734 shares of the semiconductor company's stock, valued at approximately $955,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Orion Capital Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new position in Analog Devices in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its position 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 acquiring an additional 55 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.67 during trading hours on Wednesday, reaching $219.11. The stock had a trading volume of 1,544,867 shares, compared to its average volume of 3,542,478. The firm has a 50-day moving average of $198.46 and a 200-day moving average of $210.12. The firm has a market cap of $108.73 billion, a price-to-earnings ratio of 69.78, a PEG ratio of 2.85 and a beta of 1.00. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.81%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. KGI Securities began coverage on Analog Devices in a research note on Friday, May 23rd. They set a "buy" rating on the stock. Benchmark reaffirmed a "buy" rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research note on Friday, May 23rd. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. Finally, UBS Group lowered their target price on Analog Devices from $295.00 to $285.00 and set a "buy" rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

Insider Activity at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction 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 $9,066,750. The trade was a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 in the last three months. Insiders own 0.33% of the company's stock.

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.