Frank Rimerman Advisors LLC Buys 7,363 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Frank Rimerman Advisors LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 352.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,451 shares of the semiconductor company’s stock after buying an additional 7,363 shares during the period. Frank Rimerman Advisors LLC’s holdings in Analog Devices were worth $2,157,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft lifted its stake in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 43 shares during the period. CVA Family Office LLC lifted its position 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 purchasing an additional 45 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 48 shares during the last quarter. SouthState Corp grew its position 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 buying an additional 50 shares during the period. Finally, Investment Partners LTD. grew its position 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 buying an additional 50 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Barclays increased their price target 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. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America cut their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Insider Activity at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction dated 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 approximately $879,365.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the transaction, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 500 shares of the company’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 owns 4,748 shares in the company, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,495 shares of company stock valued at $7,181,458. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

ADI opened at $226.78 on Friday. The company has a market capitalization of $112.53 billion, a price-to-earnings ratio of 52.99, a P/E/G ratio of 3.74 and a beta of 1.07. The business’s 50-day moving average price is $223.80 and its two-hundred day moving average price is $216.26. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last announced its 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 return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm earned $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

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.