Oak Ridge Investments LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,509 shares of the semiconductor company’s stock, valued at approximately $544,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in ADI. Camden National Bank bought a new position in Analog Devices during the 4th quarter worth $247,000. M&G Investment Management Ltd. bought a new position in Analog Devices during the 4th quarter worth $201,000. Savant Capital LLC bought a new position in Analog Devices during the 4th quarter worth $201,000. Wade G W & Inc. bought a new position in Analog Devices during the 4th quarter worth $207,000. Finally, Mattern Capital Management LLC raised its position in Analog Devices by 0.4% during the 4th quarter. Mattern Capital Management LLC now owns 36,686 shares of the semiconductor company’s stock worth $5,420,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.
ADI stock opened at $167.34 on Friday. The firm has a market cap of $61.72 billion, a P/E ratio of 39.94, a P/E/G ratio of 2.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.05 and a quick ratio of 0.81. Analog Devices, Inc. has a 52-week low of $110.47 and a 52-week high of $167.87. The company’s 50-day moving average is $158.39.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 8th. Stockholders of record on Friday, May 28th were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.65%. Analog Devices’s payout ratio is presently 56.21%.
Several research analysts recently issued reports on ADI shares. Deutsche Bank Aktiengesellschaft raised their target price on Analog Devices from $160.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, May 20th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research report on Monday, February 22nd. Credit Suisse Group lifted their price objective on Analog Devices from $165.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 18th. Royal Bank of Canada lifted their price objective on Analog Devices from $174.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Finally, Raymond James lifted their price objective on Analog Devices from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, February 18th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $165.00.
In related news, SVP Gregory N. Henderson sold 14,557 shares of Analog Devices stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $154.60, for a total value of $2,250,512.20. Following the sale, the senior vice president now owns 8,910 shares of the company’s stock, valued at approximately $1,377,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin Cotter sold 1,557 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $150.42, for a total transaction of $234,203.94. Following the completion of the sale, the senior vice president now directly owns 7,064 shares in the company, valued at approximately $1,062,566.88. The disclosure for this sale can be found here. Insiders sold a total of 67,936 shares of company stock worth $10,780,627 in the last 90 days. Company insiders own 0.91% of the company’s stock.
About Analog Devices
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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