Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the first quarter, Holdings Channel.com reports. The fund owned 39,033 shares of the semiconductor company’s stock after purchasing an additional 442 shares during the quarter. Analog Devices accounts for 1.3% of Oak Harvest Investment Services’ holdings, making the stock its 29th largest holding. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in shares of Analog Devices by 14.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,250 shares of the semiconductor company’s stock valued at $3,721,000 after acquiring an additional 2,759 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Analog Devices by 218.1% during the third quarter. Axxcess Wealth Management LLC now owns 4,898 shares of the semiconductor company’s stock worth $858,000 after purchasing an additional 3,358 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Analog Devices by 68.5% in the third quarter. Alps Advisors Inc. now owns 25,873 shares of the semiconductor company’s stock worth $4,530,000 after buying an additional 10,519 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Analog Devices by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 3,009 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 86 shares in the last quarter. Finally, Legacy Advisors LLC raised its holdings in shares of Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI traded up $1.78 during trading hours on Thursday, reaching $230.02. The company’s stock had a trading volume of 1,425,672 shares, compared to its average volume of 2,827,371. The stock has a market cap of $114.14 billion, a PE ratio of 53.74, a PEG ratio of 3.85 and a beta of 1.08. The business has a 50-day simple moving average of $222.34 and a 200 day simple moving average of $203.28. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19.

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

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Analyst Ratings Changes

ADI has been the subject of a number of analyst reports. Susquehanna upped their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Barclays upped their target price on shares of Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, May 20th. Jefferies Financial Group started coverage on shares of Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price target on the stock. Oppenheimer upped their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald lifted their target price on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

Insider Activity at Analog Devices

In other news, Director James Champy sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $1,487,947.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director James Champy sold 4,200 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,487,947.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold a total of 46,642 shares of company stock worth $10,481,343 in the last ninety days. 0.31% of the stock is owned by insiders.

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.