2,613 Shares in Analog Devices, Inc. (NASDAQ:ADI) Bought by MQS Management LLC

MQS Management LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,613 shares of the semiconductor company’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADI. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Analog Devices by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after buying an additional 21,522 shares during the last quarter. Point72 Italy S.r.l. acquired a new position in Analog Devices during the fourth quarter worth $6,367,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $850,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $1,152,000. Finally, Capital International Investors raised its holdings in shares of Analog Devices by 5.8% in the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after purchasing an additional 246,799 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock worth $10,481,343 over the last three months. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of ADI stock traded down $3.70 during trading hours on Thursday, reaching $220.92. The stock had a trading volume of 5,111,394 shares, compared to its average volume of 3,291,138. The stock’s fifty day simple moving average is $231.77 and its 200 day simple moving average is $207.51. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14. The firm has a market capitalization of $109.62 billion, a PE ratio of 51.62, a PEG ratio of 3.89 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $2.83 earnings per share. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.67%. Analog Devices’s payout ratio is presently 85.98%.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. TD Cowen increased their target price on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley increased their target price on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer increased their target price on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Finally, Bank of America raised their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $245.50.

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.