Analog Devices, Inc. (NASDAQ:ADI) Stock Position Lifted by Norway Savings Bank

Norway Savings Bank lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,862 shares of the semiconductor company’s stock after acquiring an additional 535 shares during the period. Norway Savings Bank’s holdings in Analog Devices were worth $2,544,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices in the 4th quarter worth approximately $1,225,227,000. Capital International Investors increased its stake in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares during the period. First Eagle Investment Management LLC raised its holdings in Analog Devices by 9.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock worth $761,852,000 after purchasing an additional 327,542 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in Analog Devices by 11.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock worth $753,379,000 after purchasing an additional 397,753 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gregory M. Bryant sold 17,612 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value 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 approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,121 shares of company stock valued at $10,875,654. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $228.26 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The company has a fifty day moving average price of $220.13 and a two-hundred day moving average price of $202.57. The stock has a market cap of $113.27 billion, a P/E ratio of 53.33, a P/E/G ratio of 3.82 and a beta of 1.12. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $241.88.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is presently 85.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADI. Sanford C. Bernstein increased their price target on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Susquehanna raised their price target on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Evercore ISI started coverage on Analog Devices in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective on the stock. Finally, KeyCorp lifted their price target on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.