Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Pointe Capital Management LLC

Pointe Capital Management LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,808 shares of the semiconductor company’s stock after purchasing an additional 73 shares during the period. Pointe Capital Management LLC’s holdings in Analog Devices were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADI. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth about $29,000. ORG Partners LLC increased its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC increased its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Hobbs Group Advisors LLC acquired a new position in Analog Devices in the 2nd quarter valued at about $37,000. Finally, New Covenant Trust Company N.A. acquired a new position in Analog Devices in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADI shares. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Bank of America dropped their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $0.49 during trading on Friday, hitting $230.17. 1,733,471 shares of the stock were exchanged, compared to its average volume of 3,223,514. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $226.85 and a two-hundred day moving average price of $222.11. The company has a market cap of $114.21 billion, a PE ratio of 53.78, a P/E/G ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $2.49 EPS. Analog Devices’s revenue was down 24.8% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by corporate 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.