Profund Advisors LLC Purchases 4,749 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Profund Advisors LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the second quarter, HoldingsChannel reports. The firm owned 80,858 shares of the semiconductor company’s stock after purchasing an additional 4,749 shares during the quarter. Analog Devices accounts for approximately 0.7% of Profund Advisors LLC’s holdings, making the stock its 23rd biggest holding. Profund Advisors LLC’s holdings in Analog Devices were worth $18,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Italy S.r.l. bought a new stake in shares of Analog Devices during the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in Analog Devices during the fourth quarter worth about $850,000. Capital International Investors grew its holdings in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after purchasing an additional 246,799 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in shares of Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after purchasing an additional 208,522 shares in the last quarter. Finally, Madison Asset Management LLC lifted its holdings in shares of Analog Devices by 1.0% during the fourth quarter. Madison Asset Management LLC now owns 541,595 shares of the semiconductor company’s stock valued at $107,539,000 after purchasing an additional 5,158 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

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. In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock worth $7,181,458 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 2.9 %

Shares of NASDAQ:ADI opened at $226.78 on Friday. The stock’s 50-day simple moving average is $223.80 and its two-hundred day simple moving average is $216.26. The stock has a market capitalization of $112.53 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. 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. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

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.