Analog Devices, Inc. (NASDAQ:ADI) Stock Position Boosted by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,308 shares of the semiconductor company’s stock after acquiring an additional 408 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Analog Devices were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Ballentine Partners LLC lifted its position in shares of Analog Devices by 3.2% in the third quarter. Ballentine Partners LLC now owns 13,013 shares of the semiconductor company’s stock worth $2,995,000 after purchasing an additional 399 shares in the last quarter. West Michigan Advisors LLC grew its holdings in Analog Devices by 335.7% during the third quarter. West Michigan Advisors LLC now owns 10,727 shares of the semiconductor company’s stock valued at $2,469,000 after purchasing an additional 8,265 shares during the last quarter. Nicholson Wealth Management Group LLC bought a new stake in shares of Analog Devices in the third quarter valued at approximately $867,000. Dakota Wealth Management boosted its position in shares of Analog Devices by 0.7% in the third quarter. Dakota Wealth Management now owns 8,684 shares of the semiconductor company’s stock valued at $1,999,000 after acquiring an additional 57 shares during the period. Finally, DT Investment Partners LLC boosted its position in shares of Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after acquiring an additional 51 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,495 shares of company stock worth $20,794,658. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Barclays lifted their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Stock Performance

ADI stock opened at $230.17 on Friday. The company has a market cap of $114.21 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The stock’s fifty day moving average price is $226.71 and its 200-day moving average price is $221.75.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s payout ratio is 85.98%.

Analog Devices Company Profile

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.