HBK Sorce Advisory LLC Has $908,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

HBK Sorce Advisory LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the semiconductor company’s stock after purchasing an additional 230 shares during the period. HBK Sorce Advisory LLC’s holdings in Analog Devices were worth $908,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after buying an additional 413,084 shares during the period. Geode Capital Management LLC raised its holdings in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after acquiring an additional 247,737 shares during the period. Norges Bank purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $1,755,958,000. FMR LLC boosted its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after purchasing an additional 61,390 shares during the period. Finally, Northern Trust Corp boosted its stake in Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock worth $1,173,026,000 after purchasing an additional 427,328 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.1%

Analog Devices stock opened at $234.68 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The firm’s fifty day simple moving average is $212.88 and its 200-day simple moving average is $211.48. The company has a market capitalization of $116.46 billion, a P/E ratio of 63.95, a P/E/G ratio of 2.17 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. Analog Devices’s payout ratio is currently 107.90%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Williams Trading set a $260.00 target price on shares of Analog Devices in a research note on Friday, May 23rd. Piper Sandler dropped their price target on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Barclays raised their price objective on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Evercore ISI upped their target price on Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Finally, Raymond James Financial raised shares of Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $251.75.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $3,143,556 over the last 90 days. Insiders own 0.33% 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.