Golden State Wealth Management LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 282.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,099 shares of the semiconductor company’s stock after acquiring an additional 812 shares during the period. Golden State Wealth Management LLC’s holdings in Analog Devices were worth $222,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Spire Wealth Management grew its position in shares of Analog Devices by 10.8% during the first quarter. Spire Wealth Management now owns 2,384 shares of the semiconductor company’s stock worth $481,000 after acquiring an additional 233 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Analog Devices during the first quarter worth $1,910,000. Cornerstone Wealth Group LLC acquired a new stake in shares of Analog Devices during the first quarter worth $207,000. Invesco LLC lifted its holdings in shares of Analog Devices by 395.4% during the first quarter. Invesco LLC now owns 17,434 shares of the semiconductor company’s stock worth $3,516,000 after purchasing an additional 13,915 shares during the period. Finally, Community Financial Services Group LLC lifted its holdings in shares of Analog Devices by 16.8% during the first quarter. Community Financial Services Group LLC now owns 9,872 shares of the semiconductor company’s stock worth $1,991,000 after purchasing an additional 1,420 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Barclays increased their price target on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. Benchmark reaffirmed a “buy” rating and set a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Wells Fargo & Company set a $235.00 price target on Analog Devices and gave the stock an “equal weight” rating in a report on Monday, June 16th. Finally, Cantor Fitzgerald raised Analog Devices from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.75.
Insider Activity
In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $3,143,556 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.
Analog Devices Trading Down 0.1%
Shares of ADI stock opened at $236.96 on Friday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The stock has a market cap of $117.59 billion, a P/E ratio of 64.57, a P/E/G ratio of 2.19 and a beta of 1.00. The business has a fifty day simple moving average of $215.31 and a 200-day simple moving average of $211.72. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.
Analog Devices (NASDAQ:ADI – Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.
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.
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