Advisory Services Network LLC Increases Holdings in Analog Devices, Inc. $ADI

Advisory Services Network LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 46.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 39,949 shares of the semiconductor company’s stock after acquiring an additional 12,659 shares during the quarter. Advisory Services Network LLC’s holdings in Analog Devices were worth $8,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howard Hughes Medical Institute acquired a new stake in Analog Devices in the second quarter valued at approximately $25,000. Activest Wealth Management lifted its position in shares of Analog Devices by 6,350.0% during the first quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in Analog Devices during the 2nd quarter valued at $26,000. Saudi Central Bank acquired a new stake in Analog Devices during the 1st quarter valued at $39,000. Finally, Nova Wealth Management Inc. purchased a new stake in Analog Devices during the 1st quarter worth $42,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $242.74, for a total value of $242,740.00. Following the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the transaction, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 35,419 shares of company stock valued at $8,791,598. 0.33% of the stock is currently owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $279.32 on Monday. The firm’s 50 day moving average is $246.14 and its two-hundred day moving average is $240.47. The firm has a market capitalization of $136.77 billion, a P/E ratio of 61.25, a PEG ratio of 1.55 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $284.23.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADI shares. BNP Paribas Exane started coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a report on Wednesday, November 26th. Barclays raised their price target on shares of Analog Devices from $185.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 21st. Finally, Bank of America boosted their price objective on shares of Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.61.

About Analog Devices

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.