New Century Financial Group LLC Purchases New Position in Analog Devices, Inc. (NASDAQ:ADI)

New Century Financial Group LLC purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 911 shares of the semiconductor company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Italy S.r.l. bought a new position in Analog Devices in the fourth quarter valued at approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in Analog Devices in the 4th quarter valued at approximately $850,000. Capital International Investors lifted its stake in Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after purchasing an additional 208,522 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Analog Devices by 16.2% in the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after purchasing an additional 10,106 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 1.8 %

Shares of NASDAQ:ADI opened at $227.73 on Thursday. The company has a market capitalization of $113.00 billion, a P/E ratio of 53.21, a P/E/G ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The business’s 50 day simple moving average is $222.68 and its 200 day simple moving average is $218.04. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14.

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

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Transactions at Analog Devices

In related news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at approximately $879,365.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company’s stock, valued at $18,106,760.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley boosted their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.