Vest Financial LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,632 shares of the semiconductor company's stock after acquiring an additional 2,655 shares during the period. Vest Financial LLC's holdings in Analog Devices were worth $1,942,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Breakwater Capital Group purchased a new position in Analog Devices in the first quarter valued at $249,000. Salvus Wealth Management LLC boosted its position in shares of Analog Devices by 1.8% during the 1st quarter. Salvus Wealth Management LLC now owns 19,813 shares of the semiconductor company's stock worth $3,996,000 after acquiring an additional 345 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Analog Devices by 24.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,246 shares of the semiconductor company's stock valued at $3,075,000 after acquiring an additional 2,974 shares during the last quarter. L. Roy Papp & Associates LLP raised its position in shares of Analog Devices by 1.8% during the 1st quarter. L. Roy Papp & Associates LLP now owns 37,468 shares of the semiconductor company's stock worth $7,556,000 after acquiring an additional 663 shares in the last quarter. Finally, HF Advisory Group LLC lifted its stake in Analog Devices by 19.4% during the first quarter. HF Advisory Group LLC now owns 5,634 shares of the semiconductor company's stock worth $1,136,000 after purchasing an additional 917 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
Analog Devices Stock Performance
Shares of NASDAQ:ADI traded up $5.40 during midday trading on Monday, hitting $227.66. The stock had a trading volume of 4,109,566 shares, compared to its average volume of 3,564,025. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $199.58 and a two-hundred day moving average price of $210.29. The company has a market capitalization of $112.98 billion, a PE ratio of 72.50, a P/E/G ratio of 2.85 and a beta of 1.00.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. Analog Devices's payout ratio is currently 107.90%.
Analog Devices declared that its board has authorized 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. Lake Street Capital assumed coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. One investment 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's stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of "Moderate Buy" and an average target price of $248.63.
Read Our Latest Research Report on ADI
Insider Transactions at Analog Devices
In other news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was 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 in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices 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 transaction, the director now directly owns 180,071 shares of the company's stock, valued at $35,265,104.64. This trade represents a 1.71% 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 valued at $8,735,156 in the last ninety days. 0.33% of the stock is currently owned by company insiders.
About Analog Devices
(
Free Report)
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.
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