Adero Partners LLC Purchases New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Adero Partners LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,367 shares of the semiconductor company’s stock, valued at approximately $315,000.

Several other hedge funds have also bought and sold shares of ADI. Swedbank AB bought a new stake in shares of Analog Devices during the 1st quarter worth $537,171,000. Canada Pension Plan Investment Board raised its stake in shares of Analog Devices by 17,535,360.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock worth $346,834,000 after purchasing an additional 1,753,536 shares during the period. Raymond James & Associates raised its stake in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Oppenheimer restated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley boosted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

Shares of ADI stock opened at $206.35 on Friday. Analog Devices, Inc. has a 52-week low of $178.66 and a 52-week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The firm has a market capitalization of $102.45 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08. The stock has a 50 day moving average price of $225.88 and a 200 day moving average price of $225.12.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,495 shares of company stock valued at $25,229,958. Insiders own 0.31% of the company’s stock.

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.