Analog Devices, Inc. (NASDAQ:ADI) is Waycross Partners LLC’s 10th Largest Position

Waycross Partners LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 86,570 shares of the semiconductor company’s stock after purchasing an additional 9,136 shares during the period. Analog Devices comprises 3.0% of Waycross Partners LLC’s investment portfolio, making the stock its 10th largest position. Waycross Partners LLC’s holdings in Analog Devices were worth $19,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. New Millennium Group LLC bought a new position in Analog Devices during the 2nd quarter valued at about $29,000. Riverview Trust Co bought a new position in Analog Devices during the first quarter valued at approximately $30,000. ORG Partners LLC boosted its holdings in Analog Devices by 675.0% in the second 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 grew its position 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 stake in Analog Devices during the 2nd quarter valued at $37,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Susquehanna boosted their price target on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Truist Financial reduced their price target on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. UBS Group raised their price objective on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Trading Up 1.8 %

ADI stock opened at $225.42 on Monday. 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, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The business has a 50 day simple moving average of $224.69 and a two-hundred day simple moving average of $215.25. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 52.67, a PEG ratio of 3.74 and a beta of 1.07.

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, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,495 shares of company stock worth $7,181,458. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Company 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.