Edgestream Partners L.P. Acquires New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Edgestream Partners L.P. bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,706 shares of the semiconductor company’s stock, valued at approximately $618,000.

Several other large investors also recently added to or reduced their stakes in ADI. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the second quarter worth $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 lifted its holdings in Analog Devices by 675.0% during 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 in the last quarter. CVA Family Office LLC boosted its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Analog Devices during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

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 other news, Director Edward H. Frank sold 500 shares of the business’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 transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock valued at $7,181,458 in the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 2.9 %

Shares of NASDAQ:ADI opened at $226.78 on Monday. The stock has a market capitalization of $112.53 billion, a P/E ratio of 52.99, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. The stock’s 50-day moving average price is $223.80 and its 200-day moving average price is $216.43. 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.

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

Analog Devices Announces Dividend

The company also recently declared 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. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ADI shares. JPMorgan Chase & Co. increased 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. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America decreased their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, July 16th. Finally, Barclays boosted their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target 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.