Titleist Asset Management LLC Purchases Shares of 2,999 Analog Devices, Inc. (NASDAQ:ADI)

Titleist Asset Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,999 shares of the semiconductor company’s stock, valued at approximately $592,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management acquired a new stake in Analog Devices during the 1st quarter valued at $59,000. Mission Wealth Management LP increased its stake in shares of Analog Devices by 3.6% in the first quarter. Mission Wealth Management LP now owns 2,452 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 85 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Analog Devices in the first quarter valued at about $4,432,000. Merit Financial Group LLC raised its holdings in shares of Analog Devices by 38.4% in the first quarter. Merit Financial Group LLC now owns 2,968 shares of the semiconductor company’s stock valued at $585,000 after buying an additional 823 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Analog Devices by 8.5% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,288 shares of the semiconductor company’s stock worth $451,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $197.64, for a total transaction of $1,976,400.00. Following the completion of the sale, the chief executive officer now directly owns 70,713 shares of the company’s stock, valued at $13,975,717.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 30,000 shares of company stock worth $5,661,500. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Raymond James reduced their target price on shares of Analog Devices from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, August 24th. Stifel Nicolaus increased their price objective on Analog Devices from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Wolfe Research initiated coverage on Analog Devices in a research report on Wednesday, July 19th. They set a “market perform” rating for the company. StockNews.com cut Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Finally, UBS Group boosted their price objective on Analog Devices from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $204.21.

Analog Devices Stock Up 0.6 %

Analog Devices stock opened at $176.17 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.71 and a quick ratio of 1.10. The company’s 50-day moving average is $186.03 and its 200-day moving average is $185.80. The firm has a market capitalization of $87.79 billion, a PE ratio of 23.94, a P/E/G ratio of 1.82 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $133.48 and a fifty-two week high of $200.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, August 23rd. The semiconductor company reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.03). Analog Devices had a net margin of 29.23% and a return on equity of 15.20%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company posted $2.52 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices, Inc. will post 10.15 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Friday, September 1st. This represents a $3.44 annualized dividend and a yield of 1.95%. Analog Devices’s payout ratio is 46.74%.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.