Aviance Capital Partners LLC Makes New $973,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Aviance Capital Partners LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,917 shares of the semiconductor company’s stock, valued at approximately $973,000.

A number of other hedge funds have also recently made changes to their positions in ADI. Mutual Advisors LLC lifted its holdings in Analog Devices by 21.4% during the 3rd quarter. Mutual Advisors LLC now owns 2,493 shares of the semiconductor company’s stock worth $437,000 after buying an additional 440 shares during the period. Ancora Advisors LLC raised its holdings in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Analog Devices by 41.2% in the 3rd quarter. Gotham Asset Management LLC now owns 20,700 shares of the semiconductor company’s stock worth $3,624,000 after purchasing an additional 6,038 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Analog Devices by 2.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 67,950 shares of the semiconductor company’s stock valued at $11,897,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Analog Devices by 14.9% during the third quarter. Advisors Asset Management Inc. now owns 21,250 shares of the semiconductor company’s stock worth $3,721,000 after buying an additional 2,759 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADI shares. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Barclays upped their target price on Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Stifel Nicolaus boosted their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Robert W. Baird raised their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, TD Cowen boosted their target price on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Analog Devices Stock Down 1.3 %

ADI opened at $225.18 on Tuesday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The firm has a market capitalization of $111.74 billion, a P/E ratio of 52.61, a PEG ratio of 3.85 and a beta of 1.08. The company’s 50-day moving average is $220.13 and its 200 day moving average is $202.72. 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 (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.83 EPS. Research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,487,947.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices 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 completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold 40,121 shares of company stock worth $8,901,654 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Analog Devices Company 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.