Eagle Bay Advisors LLC Has $69,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Eagle Bay Advisors LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 348 shares of the semiconductor company’s stock after purchasing an additional 74 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Analog Devices were worth $69,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 8.6% during 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 in the last quarter. Norges Bank acquired a new stake in Analog Devices in the fourth quarter valued at about $1,225,227,000. Capital International Investors boosted its stake in Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after buying an additional 246,799 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Analog Devices by 9.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock valued at $761,852,000 after buying an additional 327,542 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Analog Devices by 11.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after buying an additional 397,753 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.8 %

NASDAQ:ADI traded up $4.18 during trading hours on Thursday, reaching $239.79. 1,729,034 shares of the company traded hands, compared to its average volume of 3,256,084. The business’s 50-day moving average price is $229.29 and its two-hundred day moving average price is $205.93. The stock has a market capitalization of $118.99 billion, a P/E ratio of 55.58, a P/E/G ratio of 4.10 and a beta of 1.08. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company posted $2.83 earnings per share. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.53%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Evercore ISI assumed coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Susquehanna lifted their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Stifel Nicolaus lifted their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Robert W. Baird lifted their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Buying and Selling at Analog Devices

In other news, Director James Champy sold 4,200 shares of the company’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 transaction of $980,910.00. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director James Champy sold 4,200 shares of the company’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 transaction of $980,910.00. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold a total of 46,642 shares of company stock worth $10,481,343 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Analog Devices Company 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.