Empirical Finance LLC Has $4 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Empirical Finance LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,370 shares of the semiconductor company’s stock after acquiring an additional 335 shares during the quarter. Empirical Finance LLC’s holdings in Analog Devices were worth $3,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADI. HBK Sorce Advisory LLC lifted its position in shares of Analog Devices by 3.2% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,194 shares of the semiconductor company’s stock worth $829,000 after acquiring an additional 131 shares during the period. Nwam LLC boosted its stake in Analog Devices by 37.9% during the first quarter. Nwam LLC now owns 1,448 shares of the semiconductor company’s stock worth $292,000 after buying an additional 398 shares in the last quarter. Banco Santander S.A. acquired a new position in shares of Analog Devices in the 1st quarter valued at $435,000. M&G Plc bought a new position in shares of Analog Devices during the 1st quarter worth about $181,232,000. Finally, First Foundation Advisors boosted its position in shares of Analog Devices by 5.8% during the 1st quarter. First Foundation Advisors now owns 16,009 shares of the semiconductor company’s stock valued at $3,166,000 after acquiring an additional 883 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 1.5 %

NASDAQ:ADI opened at $209.00 on Friday. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The firm has a market capitalization of $103.77 billion, a price-to-earnings ratio of 63.74, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $226.16 and its two-hundred day moving average price is $225.02.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a yield of 1.76%. Analog Devices’s dividend payout ratio is currently 110.51%.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’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 transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their position. 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 stock in a transaction dated 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 owns 51,039 shares in the company, valued at $11,672,108.91. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,495 shares of company stock worth $25,229,958 over the last three months. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays boosted their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.