Tounjian Advisory Partners LLC Makes New $964,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Tounjian Advisory Partners LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,778 shares of the semiconductor company's stock, valued at approximately $964,000.

A number of other institutional investors have also recently modified their holdings of the stock. Midwest Professional Planners LTD. increased its holdings in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after purchasing an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its position in shares of Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after buying an additional 54 shares in the last quarter. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after buying an additional 65 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares in the company, valued at $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71% 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Cowen reiterated a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. TD Cowen raised their price objective on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Citigroup lifted their price objective on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Price Performance

NASDAQ ADI traded up $5.68 on Tuesday, reaching $233.34. The company had a trading volume of 4,164,068 shares, compared to its average volume of 3,566,417. The stock has a market capitalization of $115.79 billion, a PE ratio of 74.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average price is $200.14 and its 200 day moving average price is $210.38.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is 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.