Virtu Financial LLC Buys New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Virtu Financial LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, Holdings Channel reports. The firm purchased 9,845 shares of the semiconductor company’s stock, valued at approximately $2,247,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Point72 Italy S.r.l. purchased a new stake in shares of Analog Devices in the 4th quarter valued at $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth about $850,000. Capital International Investors lifted its stake in shares of Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock valued at $45,326,000 after acquiring an additional 208,522 shares during the period. Finally, Profund Advisors LLC grew its position in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, Director Edward H. Frank sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at $1,078,935.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares in the company, valued at approximately $879,365.43. The disclosure for this sale can be found here. Insiders sold a total of 31,495 shares of company stock valued at $7,181,458 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $225.35 on Wednesday. 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 $111.82 billion, a P/E ratio of 52.65, a P/E/G ratio of 3.74 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $224.35 and a two-hundred day simple moving average of $215.68.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the company posted $2.49 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. Analog Devices’s payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley increased their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Bank of America decreased their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Susquehanna increased their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.45.

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.