Sargent Investment Group LLC Acquires Shares of 1,402 Analog Devices, Inc. (NASDAQ:ADI)

Sargent Investment Group LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,402 shares of the semiconductor company’s stock, valued at approximately $320,000.

Other hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its stake in Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company’s stock worth $259,000 after buying an additional 43 shares during the last quarter. CVA Family Office LLC grew its position in Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 45 shares during the last quarter. SouthState Corp increased its holdings in Analog Devices by 28.6% during the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 50 shares in the last quarter. Investment Partners LTD. raised its position in Analog Devices by 2.9% in the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after purchasing an additional 50 shares during the last quarter. Finally, Tsfg LLC boosted its stake in Analog Devices by 24.5% in the second quarter. Tsfg LLC now owns 269 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director Edward H. Frank sold 995 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Insiders sold 31,495 shares of company stock worth $7,181,458 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADI. The Goldman Sachs Group raised their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein upped their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Citigroup increased their price target on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Susquehanna upped their price objective on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $225.35 on Wednesday. The firm’s 50 day simple moving average is $224.35 and its 200 day simple moving average is $215.68. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $244.14. The company has a market capitalization of $111.82 billion, a price-to-earnings ratio of 52.65, a P/E/G ratio of 3.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $2.49 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm 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 of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. Analog Devices’s payout ratio is 85.98%.

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.