SevenBridge Financial Group LLC Has $1.05 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

SevenBridge Financial Group LLC reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,181 shares of the semiconductor company’s stock after selling 89 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Analog Devices were worth $1,054,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. United Bank increased its stake in shares of Analog Devices by 4.7% in the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after buying an additional 273 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Analog Devices by 3.8% in the third quarter. Captrust Financial Advisors now owns 25,670 shares of the semiconductor company’s stock worth $5,908,000 after acquiring an additional 941 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Analog Devices during the third quarter worth approximately $6,142,000. Hilltop Holdings Inc. bought a new stake in shares of Analog Devices during the third quarter valued at approximately $570,000. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Analog Devices by 3.0% during the third quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company’s stock valued at $927,000 after purchasing an additional 118 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADI. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $199.18 on Wednesday. The company has a market capitalization of $98.79 billion, a P/E ratio of 63.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company’s 50 day moving average price is $215.71 and its two-hundred day moving average price is $219.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $1.73 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.99%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback 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 buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by insiders.

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.