877 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Strategic Advisors LLC

Strategic Advisors LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 877 shares of the semiconductor company’s stock, valued at approximately $200,000.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after acquiring an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. purchased a new position in shares of Analog Devices in the fourth quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in Analog Devices in the fourth quarter valued at $850,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Analog Devices during the fourth quarter valued at about $1,152,000. Finally, Capital International Investors boosted its position in Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price objective on the stock. Susquehanna raised their price objective on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Truist Financial lifted their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group boosted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Analog Devices Stock Performance

ADI stock traded down $0.87 during trading on Friday, hitting $212.77. 911,291 shares of the company traded hands, compared to its average volume of 3,359,009. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock’s 50-day simple moving average is $229.32 and its 200 day simple moving average is $209.36. The company has a market cap of $105.58 billion, a PE ratio of 49.92, a P/E/G ratio of 3.69 and a beta of 1.08.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock valued at $10,791,543 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.