MQS Management LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

MQS Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,459 shares of the semiconductor company’s stock after purchasing an additional 846 shares during the period. Analog Devices comprises about 0.5% of MQS Management LLC’s portfolio, making the stock its 28th largest holding. MQS Management LLC’s holdings in Analog Devices were worth $790,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. 9258 Wealth Management LLC lifted its position in shares of Analog Devices by 3.9% in the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 85 shares in the last quarter. Level Four Advisory Services LLC boosted its position in Analog Devices by 17.3% during the fourth quarter. Level Four Advisory Services LLC now owns 2,082 shares of the semiconductor company’s stock worth $413,000 after acquiring an additional 307 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in Analog Devices by 17.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,564 shares of the semiconductor company’s stock valued at $311,000 after acquiring an additional 228 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Analog Devices by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 6,860 shares of the semiconductor company’s stock valued at $1,362,000 after acquiring an additional 146 shares during the last quarter. Finally, InterOcean Capital Group LLC lifted its position in Analog Devices by 2.9% during the fourth quarter. InterOcean Capital Group LLC now owns 3,067 shares of the semiconductor company’s stock worth $609,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Sanford C. Bernstein increased their price objective on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Robert W. Baird boosted 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. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $222.64 on Thursday. The business has a 50-day simple moving average of $224.04 and a 200-day simple moving average of $215.73. The company has a market cap of $110.48 billion, a PE ratio of 52.02, a P/E/G ratio of 3.74 and a beta of 1.07. 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.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 earnings per share. On average, equities research analysts forecast that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 in the last three months. 0.31% of the stock is currently owned by company insiders.

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.