Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.
Thurston Springer Miller Herd & Titak Inc. increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 24.2% in Q1, owning 15,246 shares valued at $3,075,000. Other investors also adjusted their positions, with institutional ownership at 86.81%. Insider transactions included sales by Director Ray Stata and EVP Vivek Jain. Analysts have mixed ratings on ADI, with a consensus rating of "Moderate Buy" and an average price target of $248.63. ADI shares opened at $218.50.
Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,246 shares of the semiconductor company's stock after purchasing an additional 2,974 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Analog Devices were worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other large investors also recently made changes to their positions in ADI. Midwest Professional Planners LTD. raised its holdings in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares during the last quarter. Portland Global Advisors LLC raised its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the last quarter. NTV Asset Management LLC raised its holdings in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after buying an additional 54 shares during the last quarter. Cassady Schiller Wealth Management LLC raised its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock valued at $1,114,000 after buying an additional 65 shares during the last quarter. Institutional investors own 86.81% of the company's stock.
Insiders Place Their Bets
In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director now owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 in the last quarter. 0.33% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
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Several analysts have weighed in on ADI shares. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. Barclays boosted their price objective on Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. UBS Group dropped their price objective on Analog Devices from $295.00 to $285.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Finally, TD Cowen boosted their price objective on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $248.63.
Read Our Latest Report on ADI
Analog Devices Stock Performance
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Shares of ADI stock opened at $218.50 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market cap of $108.43 billion, a PE ratio of 69.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The stock has a 50-day moving average of $198.79 and a 200-day moving average of $210.18. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.40 EPS. Analog Devices's quarterly revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Analog Devices Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.81%. Analog Devices's dividend payout ratio is presently 107.90%.
Analog Devices Profile
(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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