Lake Street Advisors Group LLC Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Lake Street Advisors Group LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 39.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,851 shares of the semiconductor company’s stock after buying an additional 1,669 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Analog Devices were worth $1,157,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the period. Point72 Italy S.r.l. purchased a new position in shares of Analog Devices in the 4th quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. purchased a new stake in Analog Devices in the fourth quarter worth $850,000. CTC Alternative Strategies Ltd. purchased a new stake in Analog Devices in the fourth quarter worth $1,152,000. Finally, Capital International Investors raised its holdings 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 worth $895,702,000 after purchasing an additional 246,799 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Analog Devices news, 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 completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,642 shares of company stock valued at $10,481,343. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

ADI stock traded down $5.70 during midday trading on Wednesday, reaching $224.62. 4,588,307 shares of the company’s stock traded hands, compared to its average volume of 3,278,211. 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, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The stock has a market cap of $111.46 billion, a P/E ratio of 52.48, a PEG ratio of 4.05 and a beta of 1.08. The stock’s 50-day moving average is $231.63 and its 200 day moving average is $207.41.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $2.83 EPS. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADI shares. UBS Group boosted their target price on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Citigroup upped their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. The Goldman Sachs Group lifted their target price on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Finally, 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 objective for the company. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

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.