Northeast Investment Management Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Northeast Investment Management reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 993 shares of the semiconductor company’s stock after selling 80 shares during the period. Northeast Investment Management’s holdings in Analog Devices were worth $200,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Analog Devices in the 4th quarter worth approximately $27,000. Menard Financial Group LLC purchased a new position in Analog Devices in the 4th quarter worth approximately $27,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the 4th quarter worth approximately $30,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $30,000. Finally, Cassady Schiller Wealth Management LLC grew its position in shares of 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 during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADI. Wall Street Zen upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Barclays lifted their price objective on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. KGI Securities began coverage on Analog Devices in a research report on Friday, May 23rd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Evercore ISI lifted their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research 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 assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices Stock Down 0.3%

Shares of NASDAQ:ADI opened at $232.54 on Thursday. The stock has a fifty day simple moving average of $202.55 and a two-hundred day simple moving average of $210.69. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 2.85 and a beta of 1.00. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. 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 (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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s payout ratio is 107.90%.

Analog Devices announced that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,934 shares of company stock worth $6,643,956. 0.33% of the stock is owned by insiders.

Analog Devices Company 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.