Eastern Bank Purchases 11,101 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Eastern Bank increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 196,677 shares of the semiconductor company’s stock after buying an additional 11,101 shares during the quarter. Eastern Bank’s holdings in Analog Devices were worth $39,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Brighton Jones LLC grew its stake in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of Analog Devices in the 4th quarter worth approximately $48,000. O Shaughnessy Asset Management LLC grew its stake in shares of Analog Devices by 11.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 46,339 shares of the semiconductor company’s stock worth $9,845,000 after buying an additional 4,596 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Analog Devices by 67.7% in the 4th quarter. Wellington Management Group LLP now owns 72,698 shares of the semiconductor company’s stock worth $15,445,000 after buying an additional 29,349 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Analog Devices in the 4th quarter worth approximately $71,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $230.75 on Wednesday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.73. The stock’s fifty day moving average is $230.88 and its 200 day moving average is $215.42. The stock has a market cap of $114.51 billion, a P/E ratio of 62.87, a P/E/G ratio of 2.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $1.40 EPS. Analog Devices’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate 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 was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. Analog Devices’s dividend payout ratio is currently 107.90%.

Analyst Ratings Changes

Several analysts recently weighed in on ADI shares. Cantor Fitzgerald upgraded Analog Devices from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $250.00 to $270.00 in a research note on Wednesday, June 18th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Friday, May 23rd. KeyCorp increased their target price on Analog Devices from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Williams Trading set a $260.00 target price on Analog Devices in a research note on Friday, May 23rd. Finally, Raymond James Financial upgraded Analog Devices from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock worth $3,327,994. 0.33% of the stock is owned by insiders.

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.