Analog Devices, Inc. $ADI Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,218 shares of the semiconductor company’s stock after acquiring an additional 392 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Analog Devices were worth $851,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADI. Vanguard Group Inc. lifted its holdings in Analog Devices by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company’s stock worth $9,975,681,000 after buying an additional 359,841 shares in the last quarter. Northern Trust Corp increased its position in shares of Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock valued at $1,173,026,000 after purchasing an additional 427,328 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Analog Devices by 0.3% in the 1st quarter. Raymond James Financial Inc. now owns 3,935,224 shares of the semiconductor company’s stock valued at $793,616,000 after purchasing an additional 12,666 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Analog Devices by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,715,313 shares of the semiconductor company’s stock valued at $789,356,000 after purchasing an additional 181,309 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Analog Devices by 25.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company’s stock valued at $708,260,000 after purchasing an additional 668,023 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADI shares. Oppenheimer increased their target price on shares of Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. UBS Group decreased their price target on shares of Analog Devices from $285.00 to $280.00 and set a “buy” rating for the company in a research note on Monday, July 7th. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. Barclays increased their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Finally, Noble Financial upgraded shares of Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.89.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.0%

Shares of NASDAQ ADI opened at $231.55 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The firm has a 50-day moving average price of $233.77 and a 200 day moving average price of $216.45. The stock has a market capitalization of $114.91 billion, a price-to-earnings ratio of 63.09, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analog Devices Profile

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.