Nicolet Bankshares Inc. Purchases 608 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nicolet Bankshares Inc. grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,484 shares of the semiconductor company’s stock after purchasing an additional 608 shares during the period. Nicolet Bankshares Inc.’s holdings in Analog Devices were worth $945,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Company LLC bought a new stake in shares of Analog Devices in the first quarter valued at about $27,000. Meridian Wealth Partners LLC bought a new stake in shares of Analog Devices in the first quarter valued at about $34,000. Certified Advisory Corp bought a new stake in shares of Analog Devices in the first quarter valued at about $40,000. Eagle Bay Advisors LLC bought a new stake in shares of Analog Devices in the second quarter valued at about $73,000. Finally, Sawyer & Company Inc lifted its holdings in shares of Analog Devices by 117.0% in the second quarter. Sawyer & Company Inc now owns 510 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 99.18% of the company’s stock.

Shares of ADI stock traded down $3.36 during trading on Monday, hitting $168.16. The company had a trading volume of 123,949 shares, compared to its average volume of 3,550,242. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $61.92 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. The stock’s 50-day moving average price is $166.81 and its 200 day moving average price is $161.63. Analog Devices, Inc. has a one year low of $110.66 and a one year high of $175.25.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 6.41 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a stock repurchase program on Wednesday, August 25th that allows the company to buyback $8.50 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 13.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Friday, August 27th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, August 26th. Analog Devices’s payout ratio is presently 56.21%.

A number of brokerages have recently commented on ADI. KeyCorp boosted their price target on Analog Devices from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 6th. Oppenheimer lifted their target price on Analog Devices from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. JPMorgan Chase & Co. raised Analog Devices from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $119.00 to $215.00 in a research report on Monday. Morgan Stanley initiated coverage on Analog Devices in a research report on Monday, September 13th. They issued an “equal weight” rating and a $179.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Analog Devices from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, September 9th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Buy” and an average price target of $182.69.

Analog Devices Company Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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