Cullen Investment Group LTD. Has $7 Million Position in Analog Devices, Inc. $ADI

Cullen Investment Group LTD. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,928 shares of the semiconductor company’s stock after purchasing an additional 3,322 shares during the quarter. Cullen Investment Group LTD.’s holdings in Analog Devices were worth $7,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices during the second quarter worth $25,000. RMG Wealth Management LLC acquired a new stake in shares of Analog Devices during the 2nd quarter valued at $26,000. Activest Wealth Management grew its position in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Access Investment Management LLC acquired a new position in Analog Devices in the 2nd quarter worth about $45,000. Finally, Saudi Central Bank bought a new position in Analog Devices in the first quarter valued at about $39,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.7%

Shares of NASDAQ ADI opened at $278.40 on Wednesday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $284.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company’s 50 day moving average price is $247.79 and its 200-day moving average price is $241.38. The company has a market capitalization of $136.32 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s dividend payout ratio is presently 86.84%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ADI shares. Zacks Research cut Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Robert W. Baird upped their price target on shares of Analog Devices from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. UBS Group raised their price target on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Morgan Stanley boosted their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.78.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the transaction, the chief accounting officer owned 18,913 shares in the company, valued at $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,294 shares of company stock worth $8,019,973. Company insiders own 0.33% of the company’s stock.

About Analog Devices

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.