Analog Devices, Inc. (NASDAQ:ADI) Stock Position Increased by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,632 shares of the semiconductor company’s stock after acquiring an additional 3,015 shares during the quarter. Analog Devices makes up 1.0% of ProVise Management Group LLC’s holdings, making the stock its 27th largest holding. ProVise Management Group LLC’s holdings in Analog Devices were worth $12,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. grew its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. USA Financial Formulas grew its holdings in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Cetera Trust Company N.A purchased a new position in shares of Analog Devices during the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at $29,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Analog Devices during the fourth quarter valued at $32,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 over the last three months. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADI shares. JPMorgan Chase & Co. lifted their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI started coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Oppenheimer lifted their price target on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday. Finally, TD Cowen lifted their price objective on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.42.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $2.05 during trading hours on Friday, hitting $232.51. 4,542,865 shares of the company’s stock were exchanged, compared to its average volume of 3,382,594. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. The stock has a market capitalization of $115.38 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 6.03 and a beta of 1.14. The company’s 50-day moving average price is $199.92 and its 200-day moving average price is $193.03.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm earned $2.83 EPS. The firm’s revenue was down 33.8% compared to the same quarter last year. On average, sell-side analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.58%. Analog Devices’s dividend 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.