Patriot Financial Group Insurance Agency LLC Purchases 460 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Patriot Financial Group Insurance Agency LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 11.4% in the second quarter, HoldingsChannel reports. The fund owned 4,489 shares of the semiconductor company’s stock after purchasing an additional 460 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Analog Devices were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas increased its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Analog Devices during the 4th quarter valued at approximately $29,000. New Millennium Group LLC acquired a new stake in Analog Devices during the 2nd quarter worth about $29,000. Riverview Trust Co acquired a new position in Analog Devices in the 1st quarter worth about $30,000. Finally, ORG Partners LLC increased its stake in Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.2 %

Analog Devices stock traded down $5.12 during mid-day trading on Wednesday, hitting $226.72. The company’s stock had a trading volume of 607,008 shares, compared to its average volume of 3,358,785. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The company has a 50 day moving average of $226.19 and a 200-day moving average of $211.82. The stock has a market cap of $112.50 billion, a PE ratio of 54.17, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the business posted $2.49 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is presently 85.98%.

Insider Activity

In other Analog Devices 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 sale, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction on 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 of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Insiders have sold a total of 38,112 shares of company stock valued at $8,781,571 in the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADI shares. Jefferies Financial Group began coverage on Analog Devices in a report on Monday, May 13th. They issued a “buy” rating and a $250.00 price objective on the stock. Stifel Nicolaus raised their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. KeyCorp raised their price objective on Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. TD Cowen upped their target price on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

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.