Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 311,674 shares of the semiconductor company’s stock after buying an additional 4,042 shares during the period. Analog Devices makes up about 3.4% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 6th largest holding. Reynders McVeigh Capital Management LLC’s holdings in Analog Devices were worth $43,429,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Coston McIsaac & Partners acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $27,000. Selective Wealth Management Inc. boosted its position in Analog Devices by 1,116.7% in the second quarter. Selective Wealth Management Inc. now owns 219 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 201 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Analog Devices during the first quarter valued at $33,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Analog Devices by 50.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 232 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Finally, Hallmark Capital Management Inc. bought a new position in Analog Devices during the second quarter worth $37,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research analyst reports. Truist Financial lifted their price target on shares of Analog Devices from $214.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, January 23rd. Cowen boosted their price target on shares of Analog Devices from $180.00 to $190.00 in a report on Wednesday, November 23rd. StockNews.com assumed coverage on shares of Analog Devices in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays lifted their price objective on shares of Analog Devices from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. Finally, Evercore ISI lifted their price objective on shares of Analog Devices from $185.00 to $195.00 in a research report on Wednesday, November 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.14.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $1.04 during midday trading on Thursday, reaching $177.63. 542,113 shares of the company’s stock traded hands, compared to its average volume of 3,075,996. Analog Devices, Inc. has a 1 year low of $133.48 and a 1 year high of $180.01. The company has a market cap of $90.02 billion, a P/E ratio of 33.45, a PEG ratio of 1.45 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.45 and a current ratio of 2.02. The company has a fifty day simple moving average of $167.11 and a two-hundred day simple moving average of $159.37.

Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Tuesday, November 22nd. The semiconductor company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.15. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.16 billion. Analog Devices had a return on equity of 13.58% and a net margin of 22.88%. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. Equities analysts predict that Analog Devices, Inc. will post 9.69 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Monday, December 5th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, December 2nd. Analog Devices’s dividend payout ratio (DPR) is 57.58%.

Insiders Place Their Bets

In related news, Director Tunc Doluca sold 1,700 shares of Analog Devices stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $170.00, for a total value of $289,000.00. Following the sale, the director now directly owns 66,157 shares in the company, valued at $11,246,690. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Prashanth Mahendra-Rajah sold 2,201 shares of the stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $169.16, for a total value of $372,321.16. Following the completion of the transaction, the chief financial officer now owns 13,943 shares of the company’s stock, valued at $2,358,597.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tunc Doluca sold 1,700 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $170.00, for a total value of $289,000.00. Following the transaction, the director now directly owns 66,157 shares in the company, valued at approximately $11,246,690. The disclosure for this sale can be found here. Insiders have sold a total of 30,887 shares of company stock valued at $5,349,127 over the last quarter. Company insiders own 0.46% of the company’s stock.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.