New Century Financial Group LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

New Century Financial Group LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 911 shares of the semiconductor company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. New Millennium Group LLC acquired a new stake in Analog Devices in the second quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices in the 1st quarter worth about $30,000. ORG Partners LLC lifted its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. CVA Family Office LLC boosted its stake in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $37,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 1.8 %

ADI opened at $227.73 on Thursday. The firm has a market capitalization of $113.00 billion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a fifty day moving average price of $222.68 and a 200-day moving average price of $218.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

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. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the firm posted $2.49 EPS. The company’s revenue was down 24.8% compared to the same quarter last year. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Insiders Place Their Bets

In other Analog Devices 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 transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 91,495 shares of company stock valued at $20,794,658 over the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. 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. Finally, Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $249.80.

About Analog Devices

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.