Legacy Financial Advisors Inc. Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Legacy Financial Advisors Inc. lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the second quarter, HoldingsChannel.com reports. The fund owned 3,482 shares of the semiconductor company’s stock after buying an additional 48 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Analog Devices were worth $795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baader Bank Aktiengesellschaft lifted its stake in Analog Devices by 3.9% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after acquiring an additional 43 shares during the period. CVA Family Office LLC boosted its stake in shares of Analog Devices by 40.2% during the second 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 in the last quarter. SouthState Corp increased its holdings in Analog Devices by 28.6% during the second quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 50 shares during the period. Investment Partners LTD. raised its stake in Analog Devices by 2.9% in the second quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after buying an additional 50 shares in the last quarter. Finally, Tsfg LLC lifted its holdings in Analog Devices by 24.5% during the second quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after buying an additional 53 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $226.78 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The company’s 50 day moving average is $223.80 and its 200 day moving average is $216.07. The company has a market cap of $112.53 billion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations 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 company posted $2.49 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 1.62%. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the 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 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 filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. 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 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley lifted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $251.45.

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.