NorthCrest Asset Manangement LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

NorthCrest Asset Manangement LLC lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,322 shares of the semiconductor company’s stock after purchasing an additional 2,121 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Analog Devices were worth $22,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Midwest Professional Planners LTD. raised its position in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC increased its holdings in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after buying an additional 53 shares in the last quarter. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares in the last quarter. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several research analyst reports. Citigroup lifted their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. Williams Trading set a $260.00 price objective on Analog Devices in a report on Friday, May 23rd. KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They issued a “buy” rating for the company. Finally, Benchmark reiterated a “buy” rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices Trading Down 0.2%

Shares of NASDAQ:ADI opened at $232.12 on Friday. The stock has a 50 day moving average of $203.77 and a 200 day moving average of $210.75. The company has a market cap of $115.19 billion, a PE ratio of 73.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analog Devices declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock valued at $6,643,956 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.