Winthrop Advisory Group LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 953 shares of the semiconductor company’s stock, valued at approximately $227,000.
Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Analog Devices by 284.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company’s stock valued at $6,262,000 after purchasing an additional 22,973 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Analog Devices during the 1st quarter valued at $296,000. Keybank National Association OH boosted its stake in Analog Devices by 85.8% during the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company’s stock valued at $5,461,000 after purchasing an additional 12,505 shares during the last quarter. Eastern Bank boosted its stake in Analog Devices by 6.0% during the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock valued at $39,664,000 after purchasing an additional 11,101 shares during the last quarter. Finally, McLean Asset Management Corp purchased a new stake in Analog Devices during the 2nd quarter valued at $262,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Price Performance
Shares of Analog Devices stock opened at $237.93 on Thursday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $258.13. The stock’s fifty day moving average is $241.32 and its 200 day moving average is $223.86. The stock has a market cap of $117.05 billion, a P/E ratio of 60.70, a P/E/G ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32.
Analog Devices Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Analog Devices’s dividend payout ratio (DPR) is currently 101.02%.
Analyst Upgrades and Downgrades
ADI has been the topic of several recent analyst reports. Raymond James Financial upgraded Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, June 18th. Evercore ISI increased their price target on Analog Devices from $280.00 to $303.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Piper Sandler increased their price target on Analog Devices from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Wells Fargo & Company increased their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 21st. Finally, Barclays increased their price target on Analog Devices from $185.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.29.
Check Out Our Latest Stock Report on Analog Devices
Insider Buying and Selling
In other Analog Devices news, SVP Katsufumi Nakamura sold 2,490 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $248.03, for a total transaction of $617,594.70. Following the sale, the senior vice president directly owned 13,549 shares of the company’s stock, valued at $3,360,558.47. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $254.29, for a total value of $5,085,800.00. Following the sale, the chief executive officer directly owned 23,515 shares in the company, valued at approximately $5,979,629.35. This represents a 45.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,240 shares of company stock worth $12,980,578 in the last quarter. Company insiders own 0.33% 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.
Read More
- Five stocks we like better than Analog Devices
- Pros And Cons Of Monthly Dividend Stocks
- Lowe’s vs. Home Depot: Which Benefits More From Lower Rates?
- What Does a Stock Split Mean?
- These 5 Beaten-Down Tech Stocks Could Catch Fire Next
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Falcon Flex Drives Growth as CrowdStrike Bets on AI Security
Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI – Free Report).
Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.