Edgestream Partners L.P. Purchases New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Edgestream Partners L.P. acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,706 shares of the semiconductor company’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADI. Point72 Italy S.r.l. purchased a new position in Analog Devices during the 4th quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $850,000. Capital International Investors grew its stake in shares of Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after buying an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after buying an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Analog Devices by 16.2% during the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock valued at $14,365,000 after buying an additional 10,106 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI opened at $226.78 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a market cap of $112.53 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 3.74 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $223.80 and its 200 day moving average is $216.43.

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

Analog Devices Announces Dividend

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

Insider Activity

In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred 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 approximately $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the director now directly 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 a total of 31,495 shares of company stock valued at $7,181,458 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADI. 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. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley upped their target price 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. Oppenheimer reissued an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $251.45.

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.