Norway Savings Bank Acquires 705 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Norway Savings Bank raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,760 shares of the semiconductor company’s stock after purchasing an additional 705 shares during the period. Analog Devices makes up about 1.2% of Norway Savings Bank’s investment portfolio, making the stock its 26th biggest holding. Norway Savings Bank’s holdings in Analog Devices were worth $2,291,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ADI. Silicon Valley Capital Partners bought a new stake in shares of Analog Devices during the first quarter worth $27,000. Magellan Asset Management Ltd bought a new stake in shares of Analog Devices during the first quarter worth $30,000. Fortis Capital Advisors LLC bought a new stake in shares of Analog Devices during the first quarter worth $31,000. Quarry LP increased its position in shares of Analog Devices by 267.4% during the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 123 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in shares of Analog Devices during the first quarter worth $33,000. Institutional investors own 85.55% of the company’s stock.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at approximately $12,912,193.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 30,000 shares of company stock worth $5,661,500. 0.46% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Analog Devices stock traded down $1.53 during midday trading on Friday, hitting $178.14. The company’s stock had a trading volume of 6,062,468 shares, compared to its average volume of 3,434,972. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $200.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.71 and a quick ratio of 1.10. The company has a 50-day moving average price of $185.76 and a two-hundred day moving average price of $185.74. The company has a market cap of $88.77 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.80 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.03). Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm earned $2.52 EPS. Analog Devices’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 10.12 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, September 1st. Analog Devices’s payout ratio is presently 46.74%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADI. StockNews.com downgraded shares of Analog Devices from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Stifel Nicolaus raised their target price on shares of Analog Devices from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research report on Thursday, August 24th. BMO Capital Markets decreased their target price on shares of Analog Devices from $215.00 to $200.00 in a research report on Thursday, May 25th. Finally, Sanford C. Bernstein decreased their target price on shares of Analog Devices from $220.00 to $210.00 in a research report on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $204.21.

About Analog Devices

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 that include performance, integration, and software design simulation tools for accurate power supply designs.