Fairfield Financial Advisors LTD Invests $1.94 Million in Analog Devices, Inc. (NASDAQ:ADI)

Fairfield Financial Advisors LTD purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,491 shares of the semiconductor company’s stock, valued at approximately $1,938,000. Analog Devices comprises 0.7% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 26th largest position.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter worth about $1,225,227,000. Swedbank AB acquired a new position in Analog Devices in the first quarter worth about $537,171,000. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after buying an additional 2,160,668 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company’s stock valued at $346,834,000 after buying an additional 1,753,536 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Analog Devices by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.8 %

Shares of Analog Devices stock opened at $225.42 on Monday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14. The firm has a market capitalization of $111.86 billion, a PE ratio of 52.67, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. 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 stock’s fifty day moving average is $224.69 and its 200-day moving average is $215.25.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. The disclosure for this sale can be found here. Insiders have sold a total of 31,495 shares of company stock valued at $7,181,458 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADI shares. Truist Financial lowered their price target on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Susquehanna increased their target price on shares of Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a report on Thursday, May 23rd. Stifel Nicolaus lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a report on Monday, May 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, July 16th. Finally, Citigroup raised their target price on Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $251.45.

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.