Atomi Financial Group Inc. Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Atomi Financial Group Inc. increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 75.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,914 shares of the semiconductor company’s stock after purchasing an additional 825 shares during the quarter. Atomi Financial Group Inc.’s holdings in Analog Devices were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Signature Estate & Investment Advisors LLC purchased a new stake in Analog Devices during the second quarter valued at about $220,000. Catalyst Financial Partners LLC boosted its position in shares of Analog Devices by 4.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,136 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 91 shares in the last quarter. EFG Asset Management North America Corp. raised its position in shares of Analog Devices by 16.4% in the 2nd quarter. EFG Asset Management North America Corp. now owns 11,518 shares of the semiconductor company’s stock worth $2,629,000 after purchasing an additional 1,622 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Analog Devices in the second quarter worth approximately $29,000. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Analog Devices by 5.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,169 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 57 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADI shares. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their price objective on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. UBS Group upped their price target on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays lifted their price objective on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

Analog Devices Stock Up 2.8 %

Shares of ADI traded up $6.23 during midday trading on Tuesday, reaching $231.84. 3,707,514 shares of the stock were exchanged, compared to its average volume of 3,375,461. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm has a 50 day simple moving average of $226.19 and a 200-day simple moving average of $211.82. The company has a market cap of $115.04 billion, a price-to-earnings ratio of 54.17, a P/E/G ratio of 3.69 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $2.49 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Edward H. Frank sold 500 shares of Analog Devices 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 completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $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 over the last 90 days. 0.31% of the stock is owned by company 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.