SP Asset Management Buys 2,485 Shares of Analog Devices, Inc. (NASDAQ:ADI)

SP Asset Management raised its holdings in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,607 shares of the semiconductor company’s stock after acquiring an additional 2,485 shares during the period. Analog Devices comprises about 1.3% of SP Asset Management’s investment portfolio, making the stock its 26th largest holding. SP Asset Management’s holdings in Analog Devices were worth $11,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IronBridge Private Wealth LLC boosted its position in shares of Analog Devices by 516.7% during the fourth quarter. IronBridge Private Wealth LLC now owns 222 shares of the semiconductor company’s stock worth $39,000 after buying an additional 186 shares during the period. Hanson & Doremus Investment Management increased its stake in shares of Analog Devices by 132.7% during the first quarter. Hanson & Doremus Investment Management now owns 228 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 130 shares during the period. Lloyd Advisory Services LLC. increased its stake in shares of Analog Devices by 14,400.0% during the first quarter. Lloyd Advisory Services LLC. now owns 290 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 288 shares during the period. JFS Wealth Advisors LLC grew its position in Analog Devices by 97.0% during the first quarter. JFS Wealth Advisors LLC now owns 323 shares of the semiconductor company’s stock worth $53,000 after buying an additional 159 shares in the last quarter. Finally, Wagner Wealth Management LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $60,000. 86.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Tunc Doluca sold 2,400 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $150.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 86,357 shares of the company’s stock, valued at $12,953,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the business’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $163.14, for a total value of $636,409.14. Following the transaction, the chief financial officer now directly owns 16,108 shares in the company, valued at $2,627,859.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tunc Doluca sold 2,400 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $150.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 86,357 shares in the company, valued at $12,953,550. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,236 shares of company stock valued at $4,360,291. Company insiders own 0.91% of the company’s stock.

Analog Devices Stock Up 0.2 %

Shares of ADI stock traded up $0.29 during mid-day trading on Friday, hitting $177.25. The company’s stock had a trading volume of 2,495,266 shares, compared to its average volume of 3,077,850. Analog Devices, Inc. has a 52-week low of $138.50 and a 52-week high of $191.95. The business has a 50-day moving average price of $157.13 and a 200 day moving average price of $158.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.99. The stock has a market cap of $92.14 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.56 and a beta of 1.13.

Analog Devices (NASDAQ:ADIGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The semiconductor company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.12 by $0.28. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. Analog Devices’s revenue was up 78.9% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 9.23 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, May 27th. Analog Devices’s dividend payout ratio is presently 86.12%.

Analysts Set New Price Targets

ADI has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Analog Devices from $185.00 to $165.00 in a research report on Wednesday, July 20th. UBS Group dropped their price target on Analog Devices to $210.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. The Goldman Sachs Group lowered their target price on Analog Devices from $185.00 to $167.00 in a research report on Friday, July 15th. Bank of America lowered their target price on Analog Devices from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Finally, Morgan Stanley decreased their price target on Analog Devices from $186.00 to $173.00 and set an “equal weight” rating for the company in a report on Friday, June 10th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.79.

About Analog Devices

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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