Adell Harriman & Carpenter Inc. Purchases 86 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Adell Harriman & Carpenter Inc. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,326 shares of the semiconductor company’s stock after purchasing an additional 86 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Analog Devices were worth $303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the 2nd quarter valued at about $29,000. USA Financial Formulas boosted its holdings in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $29,000. Riverview Trust Co purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $30,000. Finally, ORG Partners LLC boosted its holdings in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the company’s 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 of the company’s stock, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,107 shares of company stock valued at $9,014,710. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Susquehanna raised their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Citigroup raised 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. Sanford C. Bernstein raised their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Finally, Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $251.45.

Analog Devices Trading Down 6.9 %

ADI stock opened at $218.71 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $244.14. The stock has a market capitalization of $108.59 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The firm’s fifty day simple moving average is $225.95 and its two-hundred day simple moving average is $213.53.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

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.