Symphony Financial Ltd. Co. Buys New Position in Analog Devices, Inc. (NASDAQ:ADI)

Symphony Financial Ltd. Co. acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,030 shares of the semiconductor company’s stock, valued at approximately $204,000.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. USA Financial Formulas increased its holdings in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices during the third quarter valued at $29,000. Cetera Trust Company N.A bought a new position in shares of Analog Devices during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $29,000. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. In the last three months, insiders sold 50,121 shares of company stock valued at $10,875,654. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 0.7 %

Shares of ADI stock traded up $1.58 during mid-day trading on Friday, hitting $228.26. The stock had a trading volume of 3,634,130 shares, compared to its average volume of 3,017,578. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88. The firm has a market capitalization of $113.27 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 3.82 and a beta of 1.12. The firm’s 50-day moving average is $220.13 and its two-hundred day moving average is $202.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.83 EPS. On average, analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer raised their price target on Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. TD Cowen increased their price objective on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus increased their price objective on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.23.

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.