Rockport Wealth LLC Invests $343,000 in Analog Devices, Inc. (NASDAQ:ADI)

Rockport Wealth LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,735 shares of the semiconductor company’s stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Pinnacle Bancorp Inc. boosted its holdings in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas grew its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares during the period. Cetera Trust Company N.A purchased a new position in Analog Devices in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in Analog Devices during the fourth quarter worth $29,000. Finally, Riverview Trust Co purchased a new stake in Analog Devices during the first quarter worth $30,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael Sondel sold 4,830 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now owns 10,547 shares in the company, valued at $2,495,209.26. The disclosure for this sale can be found here. Insiders sold 46,642 shares of company stock valued at $10,481,343 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ADI. KeyCorp upped their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Barclays boosted their price target on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Oppenheimer increased their target price on shares of Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Seven investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $9.72 during midday trading on Tuesday, hitting $230.32. The company’s stock had a trading volume of 3,751,997 shares, compared to its average volume of 3,267,978. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm’s fifty day moving average price is $231.09 and its 200-day moving average price is $206.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $114.29 billion, a P/E ratio of 54.18, a P/E/G ratio of 3.90 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $2.83 EPS. The company’s quarterly revenue was down 33.8% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal 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 paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

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.