Erste Asset Management GmbH Purchases New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Erste Asset Management GmbH acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,469 shares of the semiconductor company’s stock, valued at approximately $6,142,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Analog Devices in the 3rd quarter worth about $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC grew its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. Finally, CVA Family Office LLC grew its stake in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $22,596,300 over the last three months. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America cut their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. raised their target price on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Analog Devices Price Performance

Shares of ADI opened at $223.12 on Tuesday. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $110.73 billion, a price-to-earnings ratio of 67.82, a PEG ratio of 3.36 and a beta of 1.08. The firm’s fifty day simple moving average is $224.14 and its 200-day simple moving average is $226.03.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

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.