Dividend Assets Capital LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,870 shares of the semiconductor company’s stock after acquiring an additional 2,370 shares during the quarter. Dividend Assets Capital LLC’s holdings in Analog Devices were worth $1,531,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ADI. CVA Family Office LLC acquired a new stake in shares of Analog Devices during the 1st quarter valued at about $26,000. Key Financial Inc acquired a new stake in shares of Analog Devices during the 4th quarter valued at about $28,000. Diversified LLC acquired a new stake in Analog Devices in the 4th quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in Analog Devices in the 1st quarter worth approximately $30,000. Finally, Duncker Streett & Co. Inc. acquired a new stake in Analog Devices in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
Shares of Analog Devices stock traded down $1.81 during trading on Tuesday, hitting $149.51. The stock had a trading volume of 22,926 shares, compared to its average volume of 3,011,890. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 46.13, a P/E/G ratio of 2.26 and a beta of 1.31. Analog Devices, Inc. has a 12 month low of $100.09 and a 12 month high of $164.40. The business’s 50-day moving average is $156.71 and its 200 day moving average is $147.51. The company has a current ratio of 1.84, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43.
Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, equities analysts expect that Analog Devices, Inc. will post 5.69 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 9th. Investors of record on Friday, February 26th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, February 25th. This is a boost from Analog Devices’s previous quarterly dividend of $0.62. Analog Devices’s dividend payout ratio is currently 56.21%.
In other news, CAO Michael Sondel sold 2,210 shares of the firm’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $163.79, for a total transaction of $361,975.90. Also, SVP Gregory N. Henderson sold 6,058 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $162.16, for a total value of $982,365.28. Following the transaction, the senior vice president now directly owns 11,884 shares in the company, valued at $1,927,109.44. The disclosure for this sale can be found here. In the last three months, insiders sold 53,396 shares of company stock worth $8,385,638. 0.42% of the stock is owned by insiders.
Several equities research analysts recently weighed in on the company. Credit Suisse Group boosted their target price on Analog Devices from $165.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 18th. Barclays upped their price target on Analog Devices from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and issued a $175.00 price target on shares of Analog Devices in a research report on Thursday, February 11th. Zacks Investment Research upgraded Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a research report on Monday, February 22nd. Finally, Piper Sandler upped their price target on Analog Devices from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $157.92.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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