Kovack Advisors Inc. Purchases New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Kovack Advisors Inc. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,585 shares of the semiconductor company’s stock, valued at approximately $365,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments purchased a new position in shares of Analog Devices during the third quarter valued at approximately $867,000. Versor Investments LP purchased a new stake in shares of Analog Devices in the third quarter worth $952,000. Tidal Investments LLC increased its holdings in shares of Analog Devices by 24.9% during the first quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after acquiring an additional 6,314 shares in the last quarter. BDF Gestion purchased a new position in shares of Analog Devices in the 2nd quarter worth about $4,491,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in Analog Devices by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock valued at $16,912,000 after purchasing an additional 2,280 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADI shares. Barclays increased their price target on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America lowered their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Morgan Stanley upped their target price 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. Six analysts have rated the stock with a hold rating and sixteen have issued 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 $249.80.

Analog Devices Stock Performance

ADI opened at $212.24 on Friday. The firm has a market cap of $105.38 billion, a P/E ratio of 63.74, a PEG ratio of 3.08 and a beta of 1.08. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14. The company has a 50 day simple moving average of $226.16 and a two-hundred day simple moving average of $225.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 EPS. Equities analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s payout ratio is currently 110.51%.

Insider Activity

In other news, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock worth $25,229,958 over the last 90 days. Corporate 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.