Royal Fund Management LLC Purchases 512 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Royal Fund Management LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.5% in the first quarter, HoldingsChannel.com reports. The firm owned 7,334 shares of the semiconductor company’s stock after purchasing an additional 512 shares during the period. Royal Fund Management LLC’s holdings in Analog Devices were worth $1,451,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its holdings in Analog Devices by 17.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,647 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 239 shares in the last quarter. &PARTNERS bought a new stake in shares of Analog Devices during the 1st quarter valued at $1,109,000. Running Oak Capital LLC grew its position in shares of Analog Devices by 12.4% in the 1st quarter. Running Oak Capital LLC now owns 53,655 shares of the semiconductor company’s stock worth $10,612,000 after buying an additional 5,938 shares during the period. Gulf International Bank UK Ltd lifted its position in Analog Devices by 0.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 43,045 shares of the semiconductor company’s stock valued at $8,513,000 after acquiring an additional 159 shares during the period. Finally, Fragasso Group Inc. purchased a new position in Analog Devices during the 1st quarter valued at about $205,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of ADI stock traded down $1.65 on Monday, hitting $229.40. 90,069 shares of the stock traded hands, compared to its average volume of 3,346,216. 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 52 week low of $154.99 and a 52 week high of $241.88. The firm has a 50 day simple moving average of $216.13 and a two-hundred day simple moving average of $201.32. The firm has a market cap of $113.83 billion, a price-to-earnings ratio of 53.98, a PEG ratio of 3.87 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $2.83 EPS. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 50,121 shares of company stock valued at $10,875,654 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ADI shares. KeyCorp upped their price target on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Truist Financial lifted their price target on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Cantor Fitzgerald increased their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Susquehanna raised their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.23.

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.