Choreo LLC Acquires 12,631 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Choreo LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 263.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,417 shares of the semiconductor company’s stock after purchasing an additional 12,631 shares during the period. Choreo LLC’s holdings in Analog Devices were worth $3,927,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADI. Prudential PLC grew its holdings in Analog Devices by 92.3% during the second quarter. Prudential PLC now owns 40,042 shares of the semiconductor company’s stock valued at $9,140,000 after purchasing an additional 19,224 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Analog Devices in the 2nd quarter valued at $590,000. First Foundation Advisors raised its holdings in Analog Devices by 5.7% in the 2nd quarter. First Foundation Advisors now owns 16,914 shares of the semiconductor company’s stock worth $3,861,000 after acquiring an additional 905 shares during the period. Oak Thistle LLC acquired a new position in Analog Devices during the 2nd quarter worth $446,000. Finally, Werba Rubin Papier Wealth Management boosted its holdings in Analog Devices by 33.1% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,392 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 346 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

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

Analog Devices Stock Up 2.3 %

NASDAQ:ADI opened at $218.56 on Tuesday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The stock has a 50-day moving average price of $225.26 and a two-hundred day moving average price of $214.30. The stock has a market cap of $108.45 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 3.55 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The firm’s revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts expect that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Susquehanna upped their target price on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 23rd. Morgan Stanley raised their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

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.