Van Diest Capital LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 247.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,884 shares of the semiconductor company’s stock after acquiring an additional 2,055 shares during the quarter. Van Diest Capital LLC’s holdings in Analog Devices were worth $918,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cumberland Partners Ltd boosted its position in shares of Analog Devices by 31.1% during the first quarter. Cumberland Partners Ltd now owns 1,379 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 327 shares in the last quarter. Dempze Nancy E increased its position in shares of Analog Devices by 0.5% in the 1st quarter. Dempze Nancy E now owns 23,551 shares of the semiconductor company’s stock valued at $7,493,000 after buying an additional 106 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in Analog Devices by 1.5% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,805 shares of the semiconductor company’s stock worth $574,000 after buying an additional 27 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Analog Devices by 44.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 949,794 shares of the semiconductor company’s stock worth $302,167,000 after buying an additional 294,395 shares during the period. Finally, Dai ichi Life Insurance Company Ltd lifted its holdings in Analog Devices by 13.0% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 23,899 shares of the semiconductor company’s stock worth $7,603,000 after acquiring an additional 2,747 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.
Analog Devices Stock Down 2.2%
Analog Devices stock opened at $371.86 on Friday. The company has a market cap of $181.13 billion, a P/E ratio of 55.25, a price-to-earnings-growth ratio of 0.96 and a beta of 1.18. Analog Devices, Inc. has a 1-year low of $218.37 and a 1-year high of $445.91. The company has a fifty day simple moving average of $401.93 and a 200 day simple moving average of $360.65. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21.
Analog Devices Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $4.40 annualized dividend and a yield of 1.2%. Analog Devices’s dividend payout ratio is 65.38%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ADI shares. Evercore reissued an “outperform” rating and issued a $474.00 target price on shares of Analog Devices in a research note on Thursday, May 21st. Fundamental Research set a $550.00 price objective on Analog Devices in a report on Monday, June 29th. Wall Street Zen upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. Citigroup increased their target price on Analog Devices from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Jefferies Financial Group lifted their price target on shares of Analog Devices from $410.00 to $475.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $441.00.
Get Our Latest Stock Analysis on Analog Devices
Insider Buying and Selling
In other news, Director Ray Stata sold 1,432 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $400.83, for a total value of $573,988.56. Following the completion of the sale, the director owned 120,175 shares of the company’s stock, valued at approximately $48,169,745.25. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Martin Cotter sold 17,594 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $418.00, for a total transaction of $7,354,292.00. Following the completion of the transaction, the senior vice president directly owned 56,332 shares of the company’s stock, valued at $23,546,776. This represents a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 103,858 shares of company stock valued at $42,062,730 in the last ninety days. 0.36% of the stock is owned by company insiders.
Analog Devices Profile
Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.
The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.
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