Northwest Investment Counselors LLC Buys Shares of 349 Analog Devices, Inc. (NASDAQ:ADI)

Northwest Investment Counselors LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 349 shares of the semiconductor company’s stock, valued at approximately $69,000.

Several other institutional investors have also added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its holdings in shares of Analog Devices by 36.5% during the 3rd quarter. Clearbridge Investments LLC now owns 2,780 shares of the semiconductor company’s stock valued at $487,000 after buying an additional 744 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Analog Devices by 26.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,145 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 236 shares during the period. Operose Advisors LLC lifted its holdings in shares of Analog Devices by 116.2% during the 3rd quarter. Operose Advisors LLC now owns 1,081 shares of the semiconductor company’s stock valued at $189,000 after buying an additional 581 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Analog Devices by 10.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 27,763 shares of the semiconductor company’s stock worth $4,861,000 after purchasing an additional 2,709 shares during the period. Finally, Mutual Advisors LLC raised its holdings in Analog Devices by 21.4% in the 3rd quarter. Mutual Advisors LLC now owns 2,493 shares of the semiconductor company’s stock worth $437,000 after purchasing an additional 440 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.0 %

NASDAQ:ADI traded down $0.07 during trading hours on Monday, reaching $230.98. The company’s stock had a trading volume of 530,448 shares, compared to its average volume of 3,349,886. The stock has a 50 day moving average price of $216.13 and a two-hundred day moving average price of $201.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a market capitalization of $114.62 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 3.87 and a beta of 1.12.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Insider Activity at Analog Devices

In related news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold a total of 50,121 shares of company stock valued at $10,875,654 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Cantor Fitzgerald raised their target price on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. TD Cowen raised their target price on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America increased their price target on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $243.23.

About Analog Devices

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.