Global Retirement Partners LLC Makes New Investment in Analog Devices, Inc. $ADI

Global Retirement Partners LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, HoldingsChannel reports. The firm acquired 5,221 shares of the semiconductor company’s stock, valued at approximately $1,243,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Brighton Jones LLC increased its stake in Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after purchasing an additional 529 shares during the last quarter. LPL Financial LLC lifted its position in shares of Analog Devices by 11.0% during the 1st quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock worth $106,496,000 after buying an additional 52,416 shares during the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $250,000. N.E.W. Advisory Services LLC acquired a new position in shares of Analog Devices in the 1st quarter valued at $33,000. Finally, Eastern Bank grew its position in shares of Analog Devices by 6.0% in the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock valued at $39,664,000 after buying an additional 11,101 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the transaction, the chief executive officer owned 163,640 shares in the company, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,750 shares of company stock worth $9,598,496 over the last three months. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Up 2.3%

NASDAQ ADI opened at $257.92 on Thursday. The firm’s fifty day moving average is $239.06 and its two-hundred day moving average is $235.77. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $260.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. The firm has a market cap of $126.89 billion, a PE ratio of 65.80, a P/E/G ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the company posted $1.67 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.5%. Analog Devices’s payout ratio is presently 101.02%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADI. BNP Paribas began coverage on shares of Analog Devices in a research report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price target for the company. Zacks Research lowered Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Evercore ISI reduced their target price on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America upped their target price on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $270.00 price target on shares of Analog Devices in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.87.

About Analog Devices

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.