Oak Harvest Investment Services Purchases 442 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Oak Harvest Investment Services raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 39,033 shares of the semiconductor company’s stock after purchasing an additional 442 shares during the period. Analog Devices accounts for about 1.3% of Oak Harvest Investment Services’ portfolio, making the stock its 29th largest position. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,720,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Analog Devices during the 4th quarter valued at about $1,225,227,000. Massachusetts Financial Services Co. MA grew its position in Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $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% in the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its stake in Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after acquiring an additional 775,000 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Analog Devices during the first quarter worth about $138,800,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $1.78 during midday trading on Thursday, hitting $230.02. The company had a trading volume of 1,425,672 shares, compared to its average volume of 2,827,371. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The stock has a market cap of $114.14 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08. 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 business’s 50-day simple moving average is $222.34 and its 200-day simple moving average is $203.28.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period last year, the company earned $2.83 EPS. On average, research analysts predict that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 annualized dividend and a yield of 1.60%. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several research reports. Evercore ISI initiated coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. Susquehanna raised their target price on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. TD Cowen upped their price objective on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays increased their price target on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.23.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Champy sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $233.55, for a total transaction of $980,910.00. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The disclosure for this sale can be found here. Insiders sold a total of 46,642 shares of company stock valued at $10,481,343 in the last 90 days. Company 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.