Aviance Capital Partners LLC Purchases New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Aviance Capital Partners LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,917 shares of the semiconductor company’s stock, valued at approximately $973,000.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock valued at $98,531,000 after purchasing an additional 21,522 shares in the last quarter. Point72 Italy S.r.l. acquired a new stake in Analog Devices in the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. bought a new stake in Analog Devices in the fourth quarter valued at $850,000. CTC Alternative Strategies Ltd. acquired a new position in Analog Devices during the fourth quarter worth $1,152,000. Finally, Capital International Investors lifted its holdings in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $225.18 on Tuesday. The firm’s 50 day simple moving average is $220.13 and its 200 day simple moving average is $202.72. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The company has a market capitalization of $111.74 billion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 3.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the business posted $2.83 earnings per share. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity

In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. Insiders have sold 40,121 shares of company stock worth $8,901,654 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADI shares. Barclays increased their target price on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Bank of America raised their price target on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Sanford C. Bernstein increased their target price on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

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.