Legacy Financial Advisors Inc. Purchases 48 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Legacy Financial Advisors Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,482 shares of the semiconductor company’s stock after purchasing an additional 48 shares during the period. Legacy Financial Advisors Inc.’s holdings in Analog Devices were worth $795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADI. Ensign Peak Advisors Inc boosted its stake in shares of Analog Devices by 6.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,529,102 shares of the semiconductor company’s stock worth $349,033,000 after acquiring an additional 97,038 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in Analog Devices by 6.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,638 shares of the semiconductor company’s stock worth $1,059,000 after purchasing an additional 264 shares during the period. Thrivent Financial for Lutherans lifted its position in Analog Devices by 9.8% during the second quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock valued at $5,651,000 after purchasing an additional 2,216 shares in the last quarter. Sei Investments Co. grew its holdings in Analog Devices by 48.4% during the second quarter. Sei Investments Co. now owns 332,795 shares of the semiconductor company’s stock valued at $75,961,000 after purchasing an additional 108,545 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Analog Devices by 8.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 104,063 shares of the semiconductor company’s stock worth $23,753,000 after buying an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.9 %

NASDAQ ADI opened at $226.78 on Friday. The stock has a 50 day moving average price of $223.80 and a 200-day moving average price of $216.07. Analog Devices, Inc. has a one year low of $154.99 and a one year 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 company has a market capitalization of $112.53 billion, a P/E ratio of 52.99, a P/E/G ratio of 3.74 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.62%. Analog Devices’s payout ratio is currently 85.98%.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock worth $7,181,458 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays upped their price target 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. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

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.