Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,651 shares of the semiconductor company’s stock after acquiring an additional 62 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Analog Devices were worth $377,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADI. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at about $1,225,227,000. Swedbank AB acquired a new position in Analog Devices in the 1st quarter valued at about $537,171,000. Vanguard Group Inc. grew its position in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after acquiring an additional 1,753,536 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Analog Devices by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADI. Robert W. Baird lifted their price objective on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Morgan Stanley boosted their target price on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, May 23rd. Susquehanna boosted their target price on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group began coverage on Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $7.66 on Wednesday, hitting $231.15. The company had a trading volume of 2,058,444 shares, compared to its average volume of 3,355,643. The company has a current ratio of 1.58, a quick ratio of 1.13 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 $244.14. The business has a 50 day moving average of $226.84 and a 200 day moving average of $210.87. The company has a market cap of $114.70 billion, a PE ratio of 55.11, a PEG ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business earned $2.49 earnings per share. The business’s revenue was down 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.59%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares in the company, valued at $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at $2,495,209.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was 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 owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,642 shares of company stock worth $10,791,543. 0.31% of the stock is owned by company insiders.

Analog Devices 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.