Pointe Capital Management LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Pointe Capital Management LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,735 shares of the semiconductor company’s stock, valued at approximately $343,000.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $1,225,227,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Analog Devices by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Analog Devices by 20,527.8% in the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the last quarter. Van ECK Associates Corp raised its stake in Analog Devices by 27.7% during the 1st quarter. Van ECK Associates Corp now owns 3,691,023 shares of the semiconductor company’s stock valued at $730,047,000 after acquiring an additional 800,199 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its stake in Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after acquiring an additional 775,000 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,642 shares of company stock worth $10,481,343. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.84 during trading on Monday, reaching $237.72. The company’s stock had a trading volume of 2,057,216 shares, compared to its average volume of 3,268,221. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $242.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $117.96 billion, a price-to-earnings ratio of 55.54, a price-to-earnings-growth ratio of 4.02 and a beta of 1.08. The business’s fifty day moving average price is $227.88 and its 200-day moving average price is $205.41.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company posted $2.83 earnings per share. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.55%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analyst Ratings Changes

Several analysts have weighed in on ADI shares. TD Cowen lifted their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein lifted their price target on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Finally, Truist Financial lifted their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $243.23.

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.