Accredited Investors Inc. Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Accredited Investors Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 34.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,015 shares of the semiconductor company’s stock after acquiring an additional 1,032 shares during the quarter. Accredited Investors Inc.’s holdings in Analog Devices were worth $924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. KPP Advisory Services LLC lifted its stake in shares of Analog Devices by 14.8% in the 3rd quarter. KPP Advisory Services LLC now owns 1,573 shares of the semiconductor company’s stock valued at $362,000 after purchasing an additional 203 shares during the last quarter. Maxwell Wealth Strategies Inc. bought a new stake in Analog Devices in the third quarter worth $1,345,000. Natixis Advisors LLC lifted its position in Analog Devices by 6.9% in the third quarter. Natixis Advisors LLC now owns 763,472 shares of the semiconductor company’s stock worth $175,728,000 after buying an additional 49,612 shares during the last quarter. Archer Investment Corp boosted its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of Analog Devices by 2.0% in the third quarter. Empirical Finance LLC now owns 17,370 shares of the semiconductor company’s stock valued at $3,998,000 after acquiring an additional 335 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward H. Frank sold 995 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at approximately $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley boosted 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. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Price Performance

NASDAQ ADI opened at $206.35 on Friday. The company has a market cap of $102.45 billion, a PE ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08. The firm’s 50 day moving average price is $225.88 and its 200-day moving average price is $225.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 52-week low of $178.66 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 yield of 1.78%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

Analog Devices 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.