Summit Global Investments Has $426,000 Stock Position in Analog Devices, Inc. $ADI

Summit Global Investments reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 63.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,732 shares of the semiconductor company’s stock after selling 3,069 shares during the quarter. Summit Global Investments’ holdings in Analog Devices were worth $426,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices in the 2nd quarter valued at $25,000. RMG Wealth Management LLC bought a new position in Analog Devices in the 2nd quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in shares of Analog Devices during the third quarter valued at approximately $31,000. Sound Income Strategies LLC raised its holdings in shares of Analog Devices by 141.8% in the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 95 shares during the last quarter. Finally, Access Investment Management LLC purchased a new stake in Analog Devices in the 2nd quarter valued at about $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.5%

Analog Devices stock opened at $310.88 on Friday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $319.26. The business’s fifty day simple moving average is $284.07 and its two-hundred day simple moving average is $254.46. The company has a market capitalization of $151.91 billion, a price-to-earnings ratio of 68.18, a price-to-earnings-growth ratio of 1.72 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 (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the company earned $1.67 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company set a $340.00 target price on shares of Analog Devices and gave the company an “overweight” rating in a research report on Thursday, January 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $314.00 price objective on shares of Analog Devices in a research note on Friday, January 16th. Oppenheimer boosted their target price on Analog Devices from $265.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Robert W. Baird boosted their price target on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings lowered Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Insider Transactions at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $297.27, for a total transaction of $928,968.75. Following the sale, the director owned 130,071 shares in the company, valued at approximately $38,666,206.17. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $301.46, for a total transaction of $150,730.00. Following the sale, the senior vice president owned 12,710 shares in the company, valued at $3,831,556.60. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,544 shares of company stock worth $14,328,561 over the last three months. 0.33% of the stock is currently owned by insiders.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.