MRA Advisory Group Invests $226,000 in Analog Devices, Inc. (NASDAQ:ADI)

MRA Advisory Group bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 991 shares of the semiconductor company’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after purchasing an additional 21,522 shares during the period. Point72 Italy S.r.l. purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in Analog Devices in the 4th quarter valued at $850,000. Capital International Investors raised its position in Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock worth $895,702,000 after acquiring an additional 246,799 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its position in Analog Devices by 1,055.6% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $213.64 on Friday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $244.14. The company has a fifty day simple moving average of $225.39 and a two-hundred day simple moving average of $213.97. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market cap of $106.01 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business posted $2.49 EPS. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,107 shares of company stock valued at $11,301,610. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Robert W. Baird raised their target price on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from 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.