Flagship Harbor Advisors LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the second quarter, HoldingsChannel reports. The institutional investor acquired 2,119 shares of the semiconductor company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Nvwm LLC grew its holdings in shares of Analog Devices by 9.2% during the first quarter. Nvwm LLC now owns 6,362 shares of the semiconductor company’s stock valued at $565,000 after buying an additional 537 shares during the last quarter. Naples Global Advisors LLC grew its holdings in shares of Analog Devices by 1.6% during the second quarter. Naples Global Advisors LLC now owns 33,888 shares of the semiconductor company’s stock valued at $3,251,000 after buying an additional 548 shares during the last quarter. Peoples Financial Services CORP. grew its holdings in shares of Analog Devices by 4.9% during the second quarter. Peoples Financial Services CORP. now owns 11,798 shares of the semiconductor company’s stock valued at $1,132,000 after buying an additional 554 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Analog Devices by 1.8% during the first quarter. Segall Bryant & Hamill LLC now owns 31,369 shares of the semiconductor company’s stock valued at $2,859,000 after buying an additional 559 shares during the last quarter. Finally, BerganKDV Wealth Management LLC grew its holdings in shares of Analog Devices by 6.0% during the second quarter. BerganKDV Wealth Management LLC now owns 10,467 shares of the semiconductor company’s stock valued at $1,004,000 after buying an additional 597 shares during the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Shares of Analog Devices stock opened at $92.40 on Friday. The company has a market cap of $33.83 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.25 and a beta of 1.18. Analog Devices, Inc. has a twelve month low of $80.95 and a twelve month high of $103.59. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.16 and a current ratio of 1.58.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Analog Devices had a net margin of 22.94% and a return on equity of 20.89%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. research analysts anticipate that Analog Devices, Inc. will post 5.89 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock buyback program on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 31st were given a $0.48 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.92 annualized dividend and a yield of 2.08%. Analog Devices’s payout ratio is presently 40.68%.

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $97.19, for a total value of $971,900.00. Following the transaction, the chief executive officer now directly owns 27,376 shares in the company, valued at $2,660,673.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil S. Novich sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $95.90, for a total transaction of $719,250.00. Following the completion of the transaction, the director now owns 30,240 shares in the company, valued at $2,900,016. The disclosure for this sale can be found here. Insiders sold 106,655 shares of company stock worth $10,425,833 over the last quarter. Insiders own 1.10% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Deutsche Bank increased their price target on shares of Analog Devices from $87.00 to $93.00 and gave the company a “hold” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Thursday, August 23rd. Stifel Nicolaus increased their price target on shares of Analog Devices from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, May 31st. BidaskClub cut shares of Analog Devices from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. Finally, Nomura assumed coverage on shares of Analog Devices in a report on Wednesday, July 18th. They set a “neutral” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Analog Devices currently has a consensus rating of “Buy” and a consensus price target of $107.00.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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