Carson Advisory Inc. Buys New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Carson Advisory Inc. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,103 shares of the semiconductor company’s stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in ADI. Amarillo National Bank increased its stake in shares of Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after buying an additional 54 shares during the period. Keystone Financial Services raised its stake in shares of Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 55 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares during the period. Legacy Advisors LLC grew its stake in shares of Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 59 shares during the last quarter. Finally, MRA Advisory Group increased its holdings in Analog Devices by 2.5% during the 3rd quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 14,707 shares of company stock valued at $2,904,013 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 1.3 %

ADI stock traded up $2.60 during trading on Thursday, hitting $196.49. 2,726,996 shares of the stock traded hands, compared to its average volume of 3,366,595. The stock has a market cap of $97.44 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 5.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20. The firm’s 50 day moving average is $193.99 and its two-hundred day moving average is $187.91.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI started coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. The Goldman Sachs Group lifted their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a report on Thursday, January 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $208.17.

About Analog Devices

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.