Norway Savings Bank Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Norway Savings Bank increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,760 shares of the semiconductor company’s stock after purchasing an additional 705 shares during the quarter. Analog Devices accounts for approximately 1.2% of Norway Savings Bank’s portfolio, making the stock its 26th biggest position. Norway Savings Bank’s holdings in Analog Devices were worth $2,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADI. LSV Asset Management purchased a new stake in Analog Devices during the first quarter worth approximately $59,000. Mission Wealth Management LP grew its holdings in Analog Devices by 3.6% in the first quarter. Mission Wealth Management LP now owns 2,452 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 85 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Analog Devices in the first quarter valued at $4,432,000. Merit Financial Group LLC lifted its position in shares of Analog Devices by 38.4% in the first quarter. Merit Financial Group LLC now owns 2,968 shares of the semiconductor company’s stock valued at $585,000 after acquiring an additional 823 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Analog Devices by 8.5% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,288 shares of the semiconductor company’s stock worth $451,000 after buying an additional 180 shares during the period. 85.55% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $1.53 during trading on Friday, reaching $178.14. 6,062,468 shares of the stock were exchanged, compared to its average volume of 3,434,972. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $200.10. The firm has a market cap of $88.77 billion, a PE ratio of 24.20, a PEG ratio of 1.80 and a beta of 1.17. The stock has a 50-day moving average price of $185.76 and a 200-day moving average price of $185.74. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 10.12 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.44 annualized dividend and a dividend yield of 1.93%. Analog Devices’s dividend payout ratio (DPR) is presently 46.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADI shares. Morgan Stanley dropped their price target on Analog Devices from $195.00 to $185.00 and set an “equal weight” rating for the company in a research note on Thursday, August 24th. JPMorgan Chase & Co. lowered their price objective on Analog Devices from $210.00 to $205.00 in a research note on Tuesday, May 30th. BMO Capital Markets reduced their target price on Analog Devices from $215.00 to $200.00 in a report on Thursday, May 25th. KeyCorp reduced their target price on Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, May 25th. Finally, Bank of America increased their target price on Analog Devices from $205.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, July 18th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.21.

View Our Latest Stock Report on ADI

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $185.91, for a total transaction of $1,859,100.00. Following the completion of the transaction, the chief executive officer now directly owns 70,713 shares in the company, valued at $13,146,253.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 30,000 shares of company stock worth $5,661,500. Corporate insiders own 0.46% of the company’s stock.

Analog Devices Company Profile

(Free Report)

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.

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

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