Avalon Global Asset Management LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Avalon Global Asset Management LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 45,300 shares of the semiconductor company’s stock after acquiring an additional 200 shares during the period. Analog Devices makes up about 2.4% of Avalon Global Asset Management LLC’s holdings, making the stock its 14th largest holding. Avalon Global Asset Management LLC’s holdings in Analog Devices were worth $10,340,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADI. 9258 Wealth Management LLC lifted its stake in Analog Devices by 3.9% during the fourth quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its stake in Analog Devices by 17.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,564 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 228 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Analog Devices by 2.2% during the fourth quarter. D.A. Davidson & CO. now owns 6,860 shares of the semiconductor company’s stock worth $1,362,000 after purchasing an additional 146 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Analog Devices by 7.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 48,229 shares of the semiconductor company’s stock worth $9,576,000 after purchasing an additional 3,549 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Analog Devices by 2.1% during the fourth quarter. US Bancorp DE now owns 508,183 shares of the semiconductor company’s stock worth $100,905,000 after purchasing an additional 10,252 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $226.78 on Friday. 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 P/E ratio of 52.99, a PEG ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a 50-day moving average price of $223.80 and a 200 day moving average price of $216.07.

Analog Devices (NASDAQ:ADI) last posted 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm earned $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.62%. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,640,975.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction 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 sale, the director now directly owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock worth $7,181,458 in the last ninety days. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADI shares. Robert W. Baird upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices 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 company. Based on data from MarketBeat, the stock 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.