Blue Trust Inc. Acquires 1,723 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Blue Trust Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 55.7% during the third quarter, HoldingsChannel reports. The fund owned 4,819 shares of the semiconductor company’s stock after acquiring an additional 1,723 shares during the quarter. Blue Trust Inc.’s holdings in Analog Devices were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Moss Adams Wealth Advisors LLC increased its holdings in shares of Analog Devices by 13.3% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 1,189 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 140 shares during the period. Net Worth Advisory Group acquired a new stake in Analog Devices during the third quarter worth about $727,000. Stratos Wealth Advisors LLC grew its position in Analog Devices by 8.8% during the third quarter. Stratos Wealth Advisors LLC now owns 5,511 shares of the semiconductor company’s stock worth $1,269,000 after buying an additional 444 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in Analog Devices by 38.4% during the third quarter. Aaron Wealth Advisors LLC now owns 3,154 shares of the semiconductor company’s stock valued at $726,000 after acquiring an additional 875 shares during the period. Finally, Claro Advisors LLC raised its holdings in Analog Devices by 8.9% in the 3rd quarter. Claro Advisors LLC now owns 6,390 shares of the semiconductor company’s stock valued at $1,471,000 after acquiring an additional 524 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.4 %

Shares of NASDAQ ADI opened at $228.33 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm’s 50-day simple moving average is $225.95 and its 200 day simple moving average is $221.21. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.30 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business earned $2.49 earnings per share. Analog Devices’s quarterly revenue was down 24.8% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. Analog Devices’s payout ratio is 85.98%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADI. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity

In related news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,640,975.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,495 shares of company stock valued at $20,794,658. Company insiders own 0.31% 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.