Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 23.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,042 shares of the semiconductor company’s stock after purchasing an additional 3,575 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Analog Devices were worth $4,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADI. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $1,225,227,000. Swedbank AB purchased a new position in Analog Devices during the 1st quarter valued at about $537,171,000. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% during 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 increased its holdings in Analog Devices by 17,535,360.0% during 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 increased its holdings in Analog Devices by 19.5% during 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 acquiring an additional 1,330,242 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 1.8 %

NASDAQ ADI opened at $225.42 on Monday. The company’s fifty day simple moving average is $224.69 and its 200-day simple moving average is $215.25. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $111.86 billion, a P/E ratio of 52.67, a PEG ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities research analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,495 shares of company stock worth $7,181,458. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. The Goldman Sachs Group boosted their target price on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Truist Financial lowered their target price on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Robert W. Baird boosted their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $251.45.

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.