Invst LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Invst LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, HoldingsChannel.com reports. The firm bought 904 shares of the semiconductor company’s stock, valued at approximately $204,000.

Other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Analog Devices in the second quarter worth $29,000. Riverview Trust Co acquired a new position in shares of Analog Devices in the first quarter worth $30,000. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices in the second quarter worth $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADI. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Edward H. Frank sold 500 shares of the 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 owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 51,495 shares of company stock valued at $11,637,458 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $230.17 on Tuesday. The firm has a market capitalization of $114.21 billion, a PE ratio of 53.78, a P/E/G ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The business has a 50-day moving average of $222.75 and a two-hundred day moving average of $217.77. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping 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 company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The company’s revenue was down 24.8% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

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.