Vicus Capital Buys 378 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Vicus Capital lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.1% in the second quarter, Holdings Channel.com reports. The fund owned 1,679 shares of the semiconductor company’s stock after acquiring an additional 378 shares during the quarter. Vicus Capital’s holdings in Analog Devices were worth $383,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter valued at $1,225,227,000. Swedbank AB acquired a new position in Analog Devices in the first quarter valued at $537,171,000. Vanguard Group Inc. boosted its position in Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after acquiring an additional 1,753,536 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the 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 sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold 46,642 shares of company stock valued at $10,791,543 in the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ADI shares. Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Sanford C. Bernstein lifted their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $245.77.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $3.73 during midday trading on Thursday, reaching $223.77. The company’s stock had a trading volume of 677,835 shares, compared to its average volume of 3,360,582. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $111.04 billion, a P/E ratio of 52.72, a PEG ratio of 3.69 and a beta of 1.08. The firm has a 50 day moving average price of $226.62 and a 200-day moving average price of $210.99. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.64%. Analog Devices’s payout ratio is 85.98%.

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.