Callan Capital LLC Purchases 271 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Callan Capital LLC grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,139 shares of the semiconductor company’s stock after acquiring an additional 271 shares during the period. Callan Capital LLC’s holdings in Analog Devices were worth $488,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft grew its holdings in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 43 shares during the period. CVA Family Office LLC lifted its position in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. SouthState Corp boosted its stake in shares of Analog Devices by 28.6% during the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 50 shares during the period. Investment Partners LTD. boosted its stake in shares of Analog Devices by 2.9% during the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 50 shares during the period. Finally, Tsfg LLC increased its holdings in shares of Analog Devices by 24.5% during the 2nd quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 53 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 2.9 %

ADI stock opened at $226.78 on Friday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The business has a 50-day simple moving average of $223.80 and a 200 day simple moving average of $216.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market cap of $112.53 billion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADI shares. Barclays lifted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Robert W. Baird upped their price target on shares of Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Finally, Truist Financial reduced their price objective on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,495 shares of company stock worth $7,181,458. Insiders own 0.31% of the company’s stock.

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.