Nwam LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Nwam LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 27.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,423 shares of the semiconductor company’s stock after purchasing an additional 309 shares during the period. Nwam LLC’s holdings in Analog Devices were worth $277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its holdings in shares of Analog Devices by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,749 shares of the semiconductor company’s stock valued at $1,315,000 after buying an additional 59 shares during the period. Cetera Advisors LLC lifted its position in shares of Analog Devices by 11.3% during the second quarter. Cetera Advisors LLC now owns 9,751 shares of the semiconductor company’s stock worth $1,900,000 after purchasing an additional 988 shares in the last quarter. Meitav Investment House Ltd. purchased a new position in shares of Analog Devices in the second quarter valued at approximately $49,000. Penobscot Investment Management Company Inc. boosted its stake in shares of Analog Devices by 41.0% in the second quarter. Penobscot Investment Management Company Inc. now owns 9,431 shares of the semiconductor company’s stock valued at $1,837,000 after purchasing an additional 2,740 shares during the period. Finally, Cetera Advisor Networks LLC increased its stake in Analog Devices by 2.7% during the 2nd quarter. Cetera Advisor Networks LLC now owns 60,050 shares of the semiconductor company’s stock worth $11,698,000 after buying an additional 1,596 shares during the period. Hedge funds and other institutional investors own 85.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADI. UBS Group dropped their price target on shares of Analog Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, November 13th. StockNews.com assumed coverage on Analog Devices in a research note on Thursday, October 5th. They set a “hold” rating for the company. Raymond James reduced their price target on Analog Devices from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. The Goldman Sachs Group lowered their price objective on Analog Devices from $204.00 to $188.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Finally, Morgan Stanley raised shares of Analog Devices from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $176.00 to $225.00 in a report on Friday. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.46.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $182.60, for a total transaction of $1,826,000.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $12,912,193.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $183.05 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 0.18. The stock has a market cap of $91.22 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.25 and a beta of 1.16. The stock has a 50 day moving average of $171.62 and a two-hundred day moving average of $180.78. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $200.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.10 billion. Analog Devices had a return on equity of 15.20% and a net margin of 29.23%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 10.08 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, September 1st. Analog Devices’s dividend payout ratio is presently 46.74%.

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.