Los Angeles Capital Management LLC Acquires 351,982 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Los Angeles Capital Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 13,733.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 354,545 shares of the semiconductor company’s stock after acquiring an additional 351,982 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Analog Devices worth $80,928,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Analog Devices by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock worth $9,437,781,000 after purchasing an additional 2,160,668 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after purchasing an additional 1,197,215 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after buying an additional 1,330,242 shares during the period. Norges Bank bought a new stake in Analog Devices during the 4th quarter valued at $1,225,227,000. Finally, Capital International Investors boosted its position in Analog Devices by 14.3% during the 1st quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after buying an additional 644,945 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.5 %

ADI stock traded down $5.42 on Friday, reaching $213.64. 3,437,085 shares of the company traded hands, compared to its average volume of 3,368,705. 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 firm has a fifty day simple moving average of $225.39 and a 200-day simple moving average of $213.80. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a market cap of $106.01 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07.

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

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.92 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.72%. Analog Devices’s payout ratio is currently 85.98%.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein increased their price objective on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. The Goldman Sachs Group boosted their target price on Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Robert W. Baird raised their price target on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Finally, UBS Group boosted their price objective on shares of Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $251.45.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was 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 of the company’s stock, valued at $11,570,541.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock worth $11,301,610 in the last three months. Insiders own 0.31% of the company’s stock.

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.