Lake Street Advisors Group LLC Acquires 408 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Lake Street Advisors Group LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,308 shares of the semiconductor company’s stock after buying an additional 408 shares during the period. Lake Street Advisors Group LLC’s holdings in Analog Devices were worth $1,452,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC increased its position in shares of Analog Devices by 3.2% during the third quarter. Ballentine Partners LLC now owns 13,013 shares of the semiconductor company’s stock worth $2,995,000 after acquiring an additional 399 shares during the period. West Michigan Advisors LLC boosted its stake in Analog Devices by 335.7% in the third quarter. West Michigan Advisors LLC now owns 10,727 shares of the semiconductor company’s stock valued at $2,469,000 after acquiring an additional 8,265 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new stake in Analog Devices in the third quarter valued at approximately $867,000. Dakota Wealth Management raised its holdings in shares of Analog Devices by 0.7% in the third quarter. Dakota Wealth Management now owns 8,684 shares of the semiconductor company’s stock worth $1,999,000 after buying an additional 57 shares during the last quarter. Finally, DT Investment Partners LLC raised its holdings in shares of Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after buying an additional 51 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADI shares. Barclays raised their price target on shares of Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America cut their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Analog Devices Stock Performance

Shares of ADI opened at $230.17 on Friday. The company has a 50-day simple moving average of $226.71 and a 200-day simple moving average of $221.75. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $114.21 billion, a PE ratio of 53.78, a P/E/G ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its 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. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm posted $2.49 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio is presently 85.98%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the transaction, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares in the company, valued at approximately $18,106,760.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,495 shares of company stock valued at $20,794,658. 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.