SevenBridge Financial Group LLC Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

SevenBridge Financial Group LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,156 shares of the semiconductor company’s stock after buying an additional 85 shares during the period. SevenBridge Financial Group LLC’s holdings in Analog Devices were worth $1,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Penobscot Investment Management Company Inc. grew its holdings in shares of Analog Devices by 7.0% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 658 shares during the period. Gateway Investment Advisers LLC grew its holdings in shares of Analog Devices by 5.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock worth $28,924,000 after purchasing an additional 7,021 shares during the period. First Foundation Advisors grew its holdings in shares of Analog Devices by 0.6% during the 2nd quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after purchasing an additional 97 shares during the period. Rockline Wealth Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth about $334,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Analog Devices by 2.5% during the 4th quarter. Ritholtz Wealth Management now owns 4,836 shares of the semiconductor company’s stock worth $960,000 after purchasing an additional 120 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADI shares. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. KeyCorp boosted their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.26.

Read Our Latest Analysis on Analog Devices

Analog Devices Stock Down 0.6 %

ADI opened at $196.62 on Tuesday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $202.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The stock has a market cap of $97.51 billion, a P/E ratio of 35.17, a P/E/G ratio of 4.96 and a beta of 1.17. The stock’s 50 day moving average price is $193.14 and its 200 day moving average price is $184.83.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $2.75 EPS. The firm’s revenue was down 22.7% compared to the same quarter last year. As a group, research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insiders Place Their Bets

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

About Analog Devices

(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.

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

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