MAI Capital Management lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 42.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,605 shares of the semiconductor company's stock after purchasing an additional 771 shares during the quarter. MAI Capital Management's holdings in Analog Devices were worth $381,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Horan Securities Inc. boosted its stake in Analog Devices by 101.2% in the first quarter. Horan Securities Inc. now owns 163 shares of the semiconductor company's stock valued at $27,000 after buying an additional 82 shares in the last quarter. Core Alternative Capital boosted its stake in Analog Devices by 333.3% in the first quarter. Core Alternative Capital now owns 182 shares of the semiconductor company's stock valued at $30,000 after buying an additional 140 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Analog Devices by 2,222.2% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 209 shares of the semiconductor company's stock valued at $35,000 after buying an additional 200 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Analog Devices in the first quarter valued at about $33,000. Finally, IronBridge Private Wealth LLC boosted its stake in Analog Devices by 516.7% in the fourth quarter. IronBridge Private Wealth LLC now owns 222 shares of the semiconductor company's stock valued at $39,000 after buying an additional 186 shares in the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
ADI has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Analog Devices from $185.00 to $167.00 in a research note on Friday, July 15th. Truist Financial lifted their price target on Analog Devices from $203.00 to $209.00 and gave the company a "buy" rating in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Analog Devices from $165.00 to $170.00 and gave the company a "hold" rating in a research note on Thursday, August 18th. Robert W. Baird reissued an "outperform" rating and set a $220.00 price target on shares of Analog Devices in a research note on Friday, August 19th. Finally, Raymond James cut their price target on Analog Devices from $210.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, August 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $195.53.
Analog Devices Trading Down 1.9 %
Shares of ADI stock opened at $139.34 on Friday. The company has a market cap of $71.67 billion, a P/E ratio of 38.49, a PEG ratio of 1.23 and a beta of 1.16. The stock has a 50 day simple moving average of $159.50 and a two-hundred day simple moving average of $158.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.92. Analog Devices, Inc. has a fifty-two week low of $138.50 and a fifty-two week high of $191.95.
Analog Devices (NASDAQ:ADI – Get Rating) last issued its earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.06 billion. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The firm's revenue for the quarter was up 76.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 9.42 earnings per share for the current year.
Analog Devices Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were issued a $0.76 dividend. The ex-dividend date was Monday, August 29th. This represents a $3.04 dividend on an annualized basis and a yield of 2.18%. Analog Devices's payout ratio is currently 83.98%.
Insiders Place Their Bets
In other news, Director Tunc Doluca sold 2,400 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $12,953,550. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Vivek Jain sold 14,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the transaction, the senior vice president now owns 18,271 shares of the company's stock, valued at $3,026,225.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tunc Doluca sold 2,400 shares of Analog Devices stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $150.00, for a total value of $360,000.00. Following the transaction, the director now directly owns 86,357 shares in the company, valued at approximately $12,953,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,700 shares of company stock worth $8,827,200. 0.91% of the stock is owned by corporate insiders.
Analog Devices Company Profile
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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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