Pallas Capital Advisors LLC Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pallas Capital Advisors LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 89.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,694 shares of the semiconductor company’s stock after buying an additional 1,746 shares during the period. Pallas Capital Advisors LLC’s holdings in Analog Devices were worth $745,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices during the 4th quarter worth $27,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the 4th quarter worth $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 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 Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the transaction, the director now directly owns 180,071 shares of the company’s stock, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,934 shares of company stock worth $6,643,956. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $232.54 on Thursday. The company has a market cap of $115.40 billion, a PE ratio of 74.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a 50-day simple moving average of $202.55 and a 200-day simple moving average of $210.69.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.70%. Analog Devices’s payout ratio is 107.90%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Cowen restated a “buy” rating on shares of Analog Devices in a research note on Friday, May 23rd. Stifel Nicolaus raised their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Williams Trading set a $260.00 target price on shares of Analog Devices in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.63.

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.