Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 26.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,844 shares of the semiconductor company’s stock after acquiring an additional 21,398 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Analog Devices were worth $23,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADI. Private Wealth Management Group LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $29,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $29,000. Riverview Trust Co acquired a new stake in shares of Analog Devices during the 1st quarter worth about $30,000. ORG Partners LLC boosted its stake in shares of 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 purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.8 %

ADI opened at $225.42 on Friday. The firm has a market capitalization of $111.92 billion, a P/E ratio of 52.67, a P/E/G ratio of 3.74 and a beta of 1.07. The firm’s 50 day moving average is $224.69 and its 200-day moving average is $214.88. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 earnings per share. Analysts expect that Analog Devices, Inc. will post 6.33 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. Analog Devices’s dividend payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADI. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Citigroup raised their target price on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Truist Financial decreased their target price on shares of Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares in the company, valued at $879,365.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. The disclosure for this sale can be found here. Insiders have sold 31,495 shares of company stock worth $7,181,458 over the last 90 days. Company insiders own 0.31% of the company’s stock.

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.