Pin Oak Investment Advisors Inc. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,523 shares of the semiconductor company’s stock, valued at approximately $1,002,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 529 shares during the period. Sivia Capital Partners LLC grew its holdings in Analog Devices by 36.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 464 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Analog Devices by 38.0% in the second quarter. Ieq Capital LLC now owns 44,576 shares of the semiconductor company’s stock valued at $10,610,000 after purchasing an additional 12,276 shares in the last quarter. HUB Investment Partners LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth $644,000. Finally, Peapack Gladstone Financial Corp increased its stake in Analog Devices by 2.4% during the second quarter. Peapack Gladstone Financial Corp now owns 60,169 shares of the semiconductor company’s stock worth $14,322,000 after acquiring an additional 1,406 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.
Analog Devices Stock Performance
NASDAQ ADI opened at $361.78 on Friday. Analog Devices, Inc. has a twelve month low of $223.47 and a twelve month high of $445.91. The stock has a market capitalization of $175.31 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 0.76 and a beta of 1.20. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $382.77 and a 200 day moving average of $372.95.
Analog Devices Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.2%. Analog Devices’s payout ratio is currently 52.19%.
Analysts Set New Price Targets
A number of research firms have weighed in on ADI. Raymond James Financial reiterated an “outperform” rating and set a $430.00 price objective on shares of Analog Devices in a research report on Thursday, May 21st. Bank of America boosted their price target on Analog Devices from $425.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Fundamental Research set a $550.00 target price on shares of Analog Devices in a report on Monday, June 29th. Seaport Research Partners raised Analog Devices from a “neutral” rating to a “buy” rating and set a $425.00 target price on the stock in a research report on Thursday, August 20th. Finally, Truist Financial boosted their target price on shares of Analog Devices from $364.00 to $405.00 and gave the stock a “hold” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $454.63.
Check Out Our Latest Analysis on Analog Devices
Insider Buying and Selling at Analog Devices
In other news, Director Karen Golz sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $374.50, for a total value of $374,500.00. Following the completion of the sale, the director directly owned 10,019 shares in the company, valued at $3,752,115.50. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $363.00, for a total value of $3,630,000.00. Following the completion of the sale, the chief executive officer directly owned 137,538 shares of the company’s stock, valued at $49,926,294. This trade represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,957 shares of company stock worth $19,268,931 over the last three months. 0.36% of the stock is owned by corporate insiders.
Analog Devices Company 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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