Summit Trail Advisors LLC Buys 264 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Summit Trail Advisors LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,638 shares of the semiconductor company’s stock after purchasing an additional 264 shares during the period. Summit Trail Advisors LLC’s holdings in Analog Devices were worth $1,059,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Analog Devices by 4.7% during the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares during the last quarter. Capital International Investors grew its stake in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock worth $1,019,726,000 after acquiring an additional 644,945 shares during the period. American Century Companies Inc. raised its holdings in shares of Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after purchasing an additional 767,534 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Analog Devices by 9.8% during the second quarter. Van ECK Associates Corp now owns 4,053,897 shares of the semiconductor company’s stock valued at $925,342,000 after purchasing an additional 362,874 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on 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 directly owns 3,753 shares in the company, valued at approximately $879,365.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 $11,570,541.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,495 shares of company stock valued at $7,181,458. 0.31% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $226.78 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The company has a market capitalization of $112.53 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 3.74 and a beta of 1.07. The firm’s 50-day moving average is $223.80 and its 200 day moving average is $216.26.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share 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 analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.49 earnings per share. Research analysts predict that Analog Devices, Inc. will post 6.33 EPS for the current year.

Analog Devices Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ADI shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Truist Financial lowered their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Profile

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.