GAMMA Investing LLC Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

GAMMA Investing LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 77.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,317 shares of the semiconductor company’s stock after purchasing an additional 2,763 shares during the quarter. GAMMA Investing LLC’s holdings in Analog Devices were worth $1,442,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ADI. Norges Bank acquired a new stake in Analog Devices during the fourth quarter worth about $1,225,227,000. Swedbank AB acquired a new stake in Analog Devices during the first quarter worth about $537,171,000. Vanguard Group Inc. grew its holdings 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 worth $9,437,781,000 after acquiring an additional 2,160,668 shares during the period. Canada Pension Plan Investment Board grew its holdings in Analog Devices by 17,535,360.0% during the first 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 grew its holdings in Analog Devices by 19.5% during the first 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 during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 5.0 %

Shares of NASDAQ:ADI traded down $10.96 on Friday, hitting $207.96. 6,796,683 shares of the company’s stock were exchanged, compared to its average volume of 3,382,127. The firm’s 50-day moving average is $231.39 and its 200 day moving average is $209.24. The company has a market capitalization of $103.19 billion, a PE ratio of 48.59, a P/E/G ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating 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 the consensus estimate of $2.11 billion. During the same period in the previous year, the business earned $2.83 EPS. The business’s quarterly revenue was down 33.8% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The disclosure for this sale can be found here. In the last three months, insiders sold 36,642 shares of company stock valued at $8,510,743. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of several research analyst reports. TD Cowen raised their price objective on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Evercore ISI initiated coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective on the stock. Stifel Nicolaus raised their target price on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Oppenheimer raised their target price on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Barclays raised their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.50.

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.