Profund Advisors LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Profund Advisors LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,858 shares of the semiconductor company’s stock after purchasing an additional 4,749 shares during the period. Analog Devices accounts for about 0.7% of Profund Advisors LLC’s holdings, making the stock its 23rd biggest position. Profund Advisors LLC’s holdings in Analog Devices were worth $18,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. New Millennium Group LLC purchased a new position in Analog Devices in the 2nd quarter valued at approximately $29,000. Riverview Trust Co bought a new stake in shares of Analog Devices during the 1st quarter valued at $30,000. ORG Partners LLC boosted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. CVA Family Office LLC grew its holdings in Analog Devices by 40.2% during the 2nd 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 in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Analog Devices during the second quarter valued at about $37,000. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,672,108.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, 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 valued at $7,181,458 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 2.9 %

ADI opened at $226.78 on Friday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $223.80 and its 200-day moving average price is $216.26. The company has a market cap 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 announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. On average, equities analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their price target 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. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America dropped their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price 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.