Hennion & Walsh Asset Management Inc. Purchases 3,356 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Hennion & Walsh Asset Management Inc. lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,413 shares of the semiconductor company’s stock after buying an additional 3,356 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Analog Devices were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADI. Norges Bank purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $1,225,227,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after purchasing an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its holdings in shares of Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new position in shares of Analog Devices during the first quarter valued at approximately $138,800,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.7 %

NASDAQ ADI traded up $1.58 during trading on Friday, reaching $228.26. 3,634,130 shares of the company’s stock traded hands, compared to its average volume of 3,017,578. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $113.27 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 3.82 and a beta of 1.12. The company’s 50 day simple moving average is $220.13 and its two-hundred day simple moving average is $202.57. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity

In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,121 shares of company stock worth $10,875,654. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ADI. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Bank of America upped their target price on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. UBS Group upped their target price on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays increased their price objective on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Finally, Truist Financial increased their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.23.

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.