Zacks Investment Management lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,353 shares of the semiconductor company’s stock after acquiring an additional 3,772 shares during the quarter. Zacks Investment Management’s holdings in Analog Devices were worth $2,720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Nvwm LLC raised its holdings in shares of Analog Devices by 9.2% during the first quarter. Nvwm LLC now owns 6,362 shares of the semiconductor company’s stock worth $565,000 after acquiring an additional 537 shares in the last quarter. Naples Global Advisors LLC raised its holdings in shares of Analog Devices by 1.6% during the second quarter. Naples Global Advisors LLC now owns 33,888 shares of the semiconductor company’s stock worth $3,251,000 after acquiring an additional 548 shares in the last quarter. Peoples Financial Services CORP. raised its holdings in shares of Analog Devices by 4.9% during the second quarter. Peoples Financial Services CORP. now owns 11,798 shares of the semiconductor company’s stock worth $1,132,000 after acquiring an additional 554 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Analog Devices by 1.8% during the first quarter. Segall Bryant & Hamill LLC now owns 31,369 shares of the semiconductor company’s stock worth $2,859,000 after acquiring an additional 559 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its holdings in shares of Analog Devices by 6.0% during the second quarter. BerganKDV Wealth Management LLC now owns 10,467 shares of the semiconductor company’s stock worth $1,004,000 after acquiring an additional 597 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Shares of ADI opened at $87.15 on Friday. The stock has a market cap of $34.36 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.58 and a quick ratio of 1.16. Analog Devices, Inc. has a 12 month low of $80.95 and a 12 month high of $103.59.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 5.89 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, August 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 30th. Analog Devices’s dividend payout ratio is 40.68%.

In other news, SVP Joseph Hassett sold 12,000 shares of Analog Devices stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.40, for a total value of $1,204,800.00. Following the completion of the transaction, the senior vice president now owns 26,711 shares in the company, valued at $2,681,784.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter Real sold 4,595 shares of Analog Devices stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $95.68, for a total transaction of $439,649.60. Following the completion of the transaction, the senior vice president now owns 18,195 shares of the company’s stock, valued at approximately $1,740,897.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,645 shares of company stock valued at $8,862,608. Corporate insiders own 0.70% of the company’s stock.

Several equities analysts have commented on ADI shares. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Thursday, August 23rd. B. Riley lowered their price target on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Stifel Nicolaus raised their price target on Analog Devices from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $107.00 price target on shares of Analog Devices in a research report on Monday, August 20th. Finally, BidaskClub downgraded Analog Devices from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. Analog Devices presently has a consensus rating of “Buy” and a consensus target price of $106.77.

About Analog Devices

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It 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 ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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