HighPoint Advisor Group LLC Acquires Shares of 13,922 Analog Devices, Inc. (NASDAQ:ADI)

HighPoint Advisor Group LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 13,922 shares of the semiconductor company’s stock, valued at approximately $2,654,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Amarillo National Bank boosted its stake in shares of Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 54 shares during the last quarter. Keystone Financial Services boosted its stake in shares of Analog Devices by 1.8% during the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 55 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its stake in shares of Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 59 shares during the last quarter. Finally, Wealth Alliance boosted its stake in shares of Analog Devices by 3.6% during the 4th quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock valued at $351,000 after buying an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADI shares. Jefferies Financial Group started coverage on Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price objective on the stock. Evercore ISI started coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Robert W. Baird raised their price objective on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. UBS Group raised their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Susquehanna raised their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Get Our Latest Analysis on ADI

Insider Buying and Selling

In related news, CAO Michael Sondel sold 4,830 shares of Analog Devices 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 of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Michael Sondel sold 4,830 shares of Analog Devices 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 of the company’s stock, valued at $2,495,209.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. Insiders have sold a total of 51,349 shares of company stock valued at $11,118,356 over the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI traded up $0.23 during trading hours on Tuesday, reaching $232.62. 180,784 shares of the company’s stock traded hands, compared to its average volume of 3,309,051. The firm has a market capitalization of $115.43 billion, a price-to-earnings ratio of 54.30, a P/E/G ratio of 3.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The business’s fifty day simple moving average is $213.34 and its two-hundred day simple moving average is $199.89.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period last year, the company earned $2.83 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s payout ratio is currently 85.98%.

About Analog Devices

(Free Report)

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.

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

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