Interval Partners LP Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Interval Partners LP boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 27.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,762 shares of the semiconductor company’s stock after purchasing an additional 2,762 shares during the quarter. Interval Partners LP’s holdings in Analog Devices were worth $2,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Millennium Group LLC bought a new position in Analog Devices during the 2nd quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in shares of Analog Devices in the 1st quarter worth about $30,000. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% in 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 during 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 in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Analog Devices during the 2nd quarter valued at about $37,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $226.01 on Tuesday. The company has a market capitalization of $112.15 billion, a P/E ratio of 52.81, a P/E/G ratio of 3.74 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm’s 50 day simple moving average is $223.56 and its two-hundred day simple moving average is $216.63. 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 released its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company earned $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ADI shares. Barclays upped their target price on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the 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 owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction 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 completion of 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. In the last ninety days, insiders have sold 31,495 shares of company stock worth $7,181,458. Insiders own 0.31% of the company’s stock.

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.