LPL Financial LLC Purchases 32,014 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LPL Financial LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,403 shares of the semiconductor company’s stock after purchasing an additional 32,014 shares during the quarter. LPL Financial LLC owned approximately 0.08% of Analog Devices worth $91,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ADI. International Assets Investment Management LLC raised its holdings in Analog Devices by 3.9% in the 4th quarter. International Assets Investment Management LLC now owns 4,710 shares of the semiconductor company’s stock worth $935,000 after purchasing an additional 176 shares in the last quarter. 9258 Wealth Management LLC raised its stake in Analog Devices by 3.9% in the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after buying an additional 85 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Analog Devices by 7.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,630 shares of the semiconductor company’s stock worth $1,912,000 after buying an additional 675 shares during the period. Foundations Investment Advisors LLC boosted its position in Analog Devices by 14.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,720 shares of the semiconductor company’s stock valued at $330,000 after acquiring an additional 220 shares in the last quarter. Finally, Navellier & Associates Inc. grew its holdings in shares of Analog Devices by 4.5% during the 4th quarter. Navellier & Associates Inc. now owns 3,983 shares of the semiconductor company’s stock worth $791,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADI shares. KeyCorp raised their target price on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Citigroup upped their price objective 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. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.45.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock worth $7,181,458 in the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 1.8 %

Shares of Analog Devices stock opened at $225.42 on Friday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $224.69 and its 200 day moving average is $214.88. The company has a market cap of $111.92 billion, a price-to-earnings ratio of 52.67, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. Research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be 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 is Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

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.