Patriot Financial Group Insurance Agency LLC Purchases 627 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Patriot Financial Group Insurance Agency LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,322 shares of the semiconductor company’s stock after acquiring an additional 627 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Analog Devices were worth $1,275,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Analog Devices in the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $833,386,000. Proficio Capital Partners LLC boosted its stake in shares of Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Analog Devices by 25,460.1% in the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company’s stock valued at $446,037,000 after purchasing an additional 2,203,062 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock valued at $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Up 1.9%

Shares of NASDAQ ADI opened at $222.26 on Monday. The firm has a fifty day simple moving average of $199.58 and a two-hundred day simple moving average of $210.29. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $110.30 billion, a PE ratio of 70.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. Analog Devices’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s payout ratio is presently 107.90%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group lowered their price target on shares of Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Morgan Stanley lowered their target price on Analog Devices from $214.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Stifel Nicolaus increased their target price on Analog Devices from $225.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Evercore ISI lifted their price target on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. Finally, Oppenheimer increased their price objective on Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.63.

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.