Norden Group LLC Has $5.36 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Norden Group LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1,534.0% in the 1st quarter, Holdings Channel reports. The firm owned 27,076 shares of the semiconductor company’s stock after acquiring an additional 25,419 shares during the period. Norden Group LLC’s holdings in Analog Devices were worth $5,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. increased its stake in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. USA Financial Formulas raised its stake in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the third quarter worth about $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $29,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’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 transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is currently owned by company insiders.

Analog Devices Trading Up 0.8 %

NASDAQ:ADI opened at $230.02 on Thursday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm’s fifty day moving average is $221.67 and its 200-day moving average is $203.09. The firm has a market cap of $114.14 billion, a P/E ratio of 53.74, a P/E/G ratio of 3.85 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released 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 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 quarter in the previous year, the business earned $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 6.24 earnings per share 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 issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. Analog Devices’s payout ratio is currently 85.98%.

Analyst Ratings Changes

A number of research firms recently issued reports on ADI. Cantor Fitzgerald upped their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Citigroup upped their price target on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley raised their price objective on Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Barclays boosted their price objective on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. Finally, Robert W. Baird increased their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

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.