Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Connors Investor Services Inc.

Connors Investor Services Inc. grew its position in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 3.1% during the first quarter, Holdings Channel reports. The firm owned 22,900 shares of the semiconductor company’s stock after acquiring an additional 691 shares during the period. Connors Investor Services Inc.’s holdings in Analog Devices were worth $3,783,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Horan Securities Inc. boosted its stake in shares of Analog Devices by 101.2% in the first quarter. Horan Securities Inc. now owns 163 shares of the semiconductor company’s stock worth $27,000 after buying an additional 82 shares during the last quarter. Core Alternative Capital boosted its stake in shares of Analog Devices by 333.3% in the first quarter. Core Alternative Capital now owns 182 shares of the semiconductor company’s stock worth $30,000 after buying an additional 140 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of Analog Devices in the first quarter worth about $33,000. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Analog Devices by 2,222.2% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 209 shares of the semiconductor company’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, Hanson & Doremus Investment Management boosted its stake in shares of Analog Devices by 132.7% in the first quarter. Hanson & Doremus Investment Management now owns 228 shares of the semiconductor company’s stock worth $38,000 after buying an additional 130 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $165.63, for a total transaction of $2,318,820.00. Following the completion of the sale, the senior vice president now owns 18,271 shares of the company’s stock, valued at $3,026,225.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Bruce R. Evans purchased 3,650 shares of the stock in a transaction dated Friday, June 17th. The stock was acquired at an average cost of $144.16 per share, for a total transaction of $526,184.00. Following the completion of the transaction, the director now directly owns 104,008 shares in the company, valued at approximately $14,993,793.28. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Vivek Jain sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $165.63, for a total value of $2,318,820.00. Following the transaction, the senior vice president now owns 18,271 shares of the company’s stock, valued at $3,026,225.73. The disclosure for this sale can be found here. Insiders sold a total of 51,700 shares of company stock valued at $8,827,200 over the last quarter. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the topic of a number of recent analyst reports. Citigroup increased their price target on Analog Devices from $192.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Piper Sandler lowered their price target on Analog Devices from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, August 18th. Sanford C. Bernstein increased their price target on Analog Devices to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 19th. The Goldman Sachs Group lowered their price target on Analog Devices from $185.00 to $167.00 in a research report on Friday, July 15th. Finally, Needham & Company LLC downgraded Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $196.61.

Analog Devices Price Performance

NASDAQ:ADI opened at $148.25 on Wednesday. Analog Devices, Inc. has a one year low of $138.50 and a one year high of $191.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.92. The stock has a market cap of $76.25 billion, a PE ratio of 40.95, a P/E/G ratio of 1.34 and a beta of 1.16. The stock has a 50 day moving average price of $161.83 and a 200 day moving average price of $158.88.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter was up 76.8% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 9.42 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $3.04 annualized dividend and a yield of 2.05%. Analog Devices’s dividend payout ratio (DPR) is 83.98%.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

See Also

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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