Virtu Financial LLC Acquires Shares of 9,845 Analog Devices, Inc. (NASDAQ:ADI)

Virtu Financial LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,845 shares of the semiconductor company’s stock, valued at approximately $2,247,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Plancorp LLC grew its holdings in Analog Devices by 4.7% during the second quarter. Plancorp LLC now owns 1,379 shares of the semiconductor company’s stock worth $315,000 after buying an additional 62 shares in the last quarter. Sargent Investment Group LLC purchased a new position in Analog Devices during the 2nd quarter worth $320,000. Edgestream Partners L.P. bought a new stake in shares of Analog Devices in the 2nd quarter worth $618,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Analog Devices in the second quarter valued at about $402,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Analog Devices by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,427 shares of the semiconductor company’s stock valued at $720,933,000 after purchasing an additional 171,893 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 0.9 %

Analog Devices stock opened at $225.35 on Wednesday. The firm has a 50 day simple moving average of $224.35 and a 200 day simple moving average of $215.68. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $244.14. The firm has a market capitalization of $111.82 billion, a price-to-earnings ratio of 52.65, a P/E/G ratio of 3.74 and a beta of 1.07.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is 85.98%.

Insider Activity

In related news, Director Edward H. Frank sold 500 shares of the company’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 sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,672,108.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. UBS Group increased their price target on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Truist Financial cut their price objective on Analog Devices from $275.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays raised their target price 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. Finally, Robert W. Baird boosted their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices 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.