Analog Devices, Inc. (NASDAQ:ADI) Holdings Raised by Brighton Jones LLC

Brighton Jones LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,998 shares of the semiconductor company’s stock after purchasing an additional 131 shares during the quarter. Brighton Jones LLC’s holdings in Analog Devices were worth $403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Broderick Brian C raised its position in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Analog Devices in the fourth quarter worth about $10,212,000. Two Sigma Investments LP bought a new stake in Analog Devices in the fourth quarter worth about $906,000. AXA S.A. raised its position in Analog Devices by 32.1% in the fourth quarter. AXA S.A. now owns 93,608 shares of the semiconductor company’s stock worth $19,888,000 after acquiring an additional 22,726 shares in the last quarter. Finally, M&T Bank Corp raised its position in Analog Devices by 4.3% in the fourth quarter. M&T Bank Corp now owns 432,912 shares of the semiconductor company’s stock worth $91,976,000 after acquiring an additional 17,858 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Oppenheimer lifted their price target on Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Cowen reissued a “buy” rating on shares of Analog Devices in a research note on Friday, May 23rd. Morgan Stanley dropped their price target on Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Finally, Barclays lifted their price target on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $250.50.

Analog Devices Stock Down 1.9%

Shares of Analog Devices stock opened at $227.44 on Wednesday. The firm has a market cap of $112.87 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a 50-day simple moving average of $206.88 and a 200-day simple moving average of $210.92.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is currently 107.90%.

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.