Analog Devices, Inc. (NASDAQ:ADI) Holdings Raised by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,293 shares of the semiconductor company’s stock after purchasing an additional 71 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Analog Devices were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Analog Devices by 4.3% during 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 in the last quarter. Point72 Italy S.r.l. bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth $850,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Analog Devices during the 4th quarter worth $1,152,000. Finally, Capital International Investors raised its holdings in Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.8 %

Analog Devices stock traded up $1.78 during midday trading on Thursday, hitting $230.02. 1,425,672 shares of the stock were exchanged, compared to its average volume of 2,827,371. The stock has a market capitalization of $114.14 billion, a PE ratio of 53.74, a P/E/G ratio of 3.85 and a beta of 1.08. The company has a fifty day simple moving average of $222.34 and a two-hundred day simple moving average of $203.28. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. 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 prior year, the company earned $2.83 EPS. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is presently 85.98%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock valued at $10,481,343 in the last quarter. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADI shares. Sanford C. Bernstein raised their price target on Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. TD Cowen increased their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Jefferies Financial Group assumed coverage on shares of Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective for the company. Cantor Fitzgerald lifted their target price on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, Susquehanna raised their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

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.