Sigma Planning Corp Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Sigma Planning Corp grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,121 shares of the semiconductor company’s stock after acquiring an additional 765 shares during the period. Sigma Planning Corp’s holdings in Analog Devices were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter valued at about $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices during the 2nd quarter worth approximately $29,000. ORG Partners LLC boosted its position in shares of Analog Devices by 675.0% during the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of Analog Devices by 40.2% in the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Analog Devices in the second quarter worth $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.3 %

Analog Devices stock opened at $212.24 on Friday. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The business has a fifty day moving average of $226.16 and a two-hundred day moving average of $225.02. The firm has a market cap of $105.38 billion, a P/E ratio of 63.74, a P/E/G ratio of 3.08 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

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

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s payout ratio is presently 110.51%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Barclays boosted their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.80.

Insider Activity

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,495 shares of company stock worth $25,229,958. Insiders own 0.31% of the company’s stock.

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.