Analog Devices, Inc. (NASDAQ:ADI) Stock Position Raised by Hemenway Trust Co LLC

Hemenway Trust Co LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the first quarter, Holdings Channel reports. The firm owned 193,215 shares of the semiconductor company’s stock after buying an additional 7,247 shares during the period. Analog Devices accounts for 3.2% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 11th largest holding. Hemenway Trust Co LLC’s holdings in Analog Devices were worth $38,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $27,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ADI shares. Oppenheimer increased their price objective on Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. Cfra Research lowered Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, May 22nd. TD Cowen increased their price objective on Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $250.50.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director now directly owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,934 shares of company stock valued at $5,807,196. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $227.44 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a fifty day moving average price of $206.88 and a two-hundred day moving average price of $210.92. The company has a market cap of $112.87 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $1.40 EPS. The business’s revenue was up 22.3% on a year-over-year basis. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.