HBK Sorce Advisory LLC Has $908,000 Holdings in Analog Devices, Inc. (NASDAQ:ADI)

HBK Sorce Advisory LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 5.4% in the first quarter, Holdings Channel.com reports. The firm owned 4,500 shares of the semiconductor company’s stock after acquiring an additional 230 shares during the period. HBK Sorce Advisory LLC’s holdings in Analog Devices were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Golden State Wealth Management LLC lifted its stake in shares of Analog Devices by 282.9% in the first quarter. Golden State Wealth Management LLC now owns 1,099 shares of the semiconductor company’s stock valued at $222,000 after buying an additional 812 shares during the period. Spire Wealth Management increased its stake in Analog Devices by 10.8% during the first quarter. Spire Wealth Management now owns 2,384 shares of the semiconductor company’s stock valued at $481,000 after acquiring an additional 233 shares during the period. Lecap Asset Management Ltd. acquired a new position in Analog Devices in the 1st quarter valued at approximately $1,910,000. Cornerstone Wealth Group LLC bought a new stake in shares of Analog Devices in the 1st quarter worth approximately $207,000. Finally, Invesco LLC lifted its position in shares of Analog Devices by 395.4% in the 1st quarter. Invesco LLC now owns 17,434 shares of the semiconductor company’s stock worth $3,516,000 after acquiring an additional 13,915 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ:ADI opened at $234.68 on Thursday. The stock has a market capitalization of $116.46 billion, a P/E ratio of 63.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a 50 day moving average of $212.88 and a 200-day moving average of $211.48.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.69%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price target 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. Williams Trading set a $260.00 price target on shares of Analog Devices in a report on Friday, May 23rd. Evercore ISI increased their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.75.

Get Our Latest Stock Report on ADI

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer now owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $3,143,556 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADIFree Report).

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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