Procyon Advisors LLC Acquires 272 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Procyon Advisors LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,318 shares of the semiconductor company’s stock after acquiring an additional 272 shares during the quarter. Procyon Advisors LLC’s holdings in Analog Devices were worth $460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. lifted its holdings in Analog Devices by 7.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 658 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in Analog Devices by 5.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock worth $28,924,000 after purchasing an additional 7,021 shares during the last quarter. First Foundation Advisors lifted its holdings in Analog Devices by 0.6% in the 2nd quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after purchasing an additional 97 shares during the last quarter. Rockline Wealth Management LLC acquired a new stake in Analog Devices in the 4th quarter worth approximately $334,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Analog Devices by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 292,441 shares of the semiconductor company’s stock worth $51,204,000 after purchasing an additional 8,914 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ADI shares. KeyCorp lifted their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Oppenheimer restated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target (down previously from $219.00) on shares of Analog Devices in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.26.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,125,860.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total value of $1,970,700.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,125,860.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,228 shares of company stock valued at $4,134,502. 0.31% of the stock is owned by insiders.

Analog Devices Trading Up 2.3 %

NASDAQ:ADI opened at $197.79 on Friday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $202.77. The business’s 50-day moving average price is $192.93 and its two-hundred day moving average price is $184.47. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $98.09 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 4.74 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.75 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

About Analog Devices

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.