Park Place Capital Corp Acquires 526 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Park Place Capital Corp grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 59.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,412 shares of the semiconductor company’s stock after purchasing an additional 526 shares during the period. Park Place Capital Corp’s holdings in Analog Devices were worth $322,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADI. Argus Investors Counsel Inc. lifted its stake in shares of Analog Devices by 28.3% in the 4th quarter. Argus Investors Counsel Inc. now owns 12,511 shares of the semiconductor company’s stock valued at $2,484,000 after purchasing an additional 2,757 shares during the period. Trust Point Inc. purchased a new stake in shares of Analog Devices in the fourth quarter worth $555,000. Arkadios Wealth Advisors raised its position in shares of Analog Devices by 11.7% in the fourth quarter. Arkadios Wealth Advisors now owns 2,171 shares of the semiconductor company’s stock worth $431,000 after buying an additional 228 shares in the last quarter. Nilsine Partners LLC raised its position in shares of Analog Devices by 14.3% in the fourth quarter. Nilsine Partners LLC now owns 1,327 shares of the semiconductor company’s stock worth $263,000 after buying an additional 166 shares in the last quarter. Finally, Boit C F David raised its position in shares of Analog Devices by 14.4% in the fourth quarter. Boit C F David now owns 11,944 shares of the semiconductor company’s stock worth $2,257,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 2.3 %

ADI traded down $4.71 during trading on Monday, hitting $203.25. The stock had a trading volume of 1,963,216 shares, compared to its average volume of 3,333,834. The stock has a 50 day simple moving average of $231.39 and a two-hundred day simple moving average of $209.24. The company has a market capitalization of $100.86 billion, a PE ratio of 48.59, a PEG ratio of 3.69 and a beta of 1.08. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month 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 issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company posted $2.83 earnings per share. The firm’s revenue was down 33.8% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,642 shares of company stock worth $8,510,743. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of several analyst reports. Truist Financial lifted their price objective on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Robert W. Baird raised their target price on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Bank of America raised their target price on Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Citigroup lifted their price objective on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus 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.