Perpetual Ltd Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Perpetual Ltd lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 51.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,236 shares of the semiconductor company’s stock after buying an additional 1,441 shares during the period. Perpetual Ltd’s holdings in Analog Devices were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Montecito Bank & Trust boosted its stake in shares of Analog Devices by 13.3% in the 1st quarter. Montecito Bank & Trust now owns 2,110 shares of the semiconductor company’s stock worth $417,000 after buying an additional 248 shares during the last quarter. Woodstock Corp lifted its position in Analog Devices by 0.5% during the first quarter. Woodstock Corp now owns 21,835 shares of the semiconductor company’s stock valued at $4,319,000 after purchasing an additional 119 shares in the last quarter. Farmers Trust Co. lifted its position in Analog Devices by 7.1% during the first quarter. Farmers Trust Co. now owns 3,474 shares of the semiconductor company’s stock valued at $687,000 after purchasing an additional 231 shares in the last quarter. Rise Advisors LLC purchased a new position in Analog Devices during the first quarter valued at $51,000. Finally, Bath Savings Trust Co lifted its position in Analog Devices by 3.5% during the first quarter. Bath Savings Trust Co now owns 16,918 shares of the semiconductor company’s stock valued at $3,346,000 after purchasing an additional 578 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Down 2.5 %

Shares of NASDAQ ADI opened at $229.51 on Friday. The business’s 50 day moving average is $215.36 and its two-hundred day moving average is $200.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88. The stock has a market capitalization of $113.89 billion, a P/E ratio of 53.62, a PEG ratio of 3.97 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm posted $2.83 earnings per share. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, research analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADI. Truist Financial lifted their target price on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. UBS Group lifted their target price on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Susquehanna raised their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $243.23.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The disclosure for this sale can be found here. Insiders sold 50,121 shares of company stock worth $10,875,654 over the last 90 days. Company insiders own 0.31% 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.