Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,376 shares of the semiconductor company’s stock after buying an additional 639 shares during the period. Empirical Finance LLC’s holdings in Analog Devices were worth $753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bell Bank boosted its stake in Analog Devices by 0.6% in the second quarter. Bell Bank now owns 9,755 shares of the semiconductor company’s stock valued at $1,679,000 after acquiring an additional 60 shares in the last quarter. MV Capital Management Inc. lifted its stake in shares of Analog Devices by 4.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,368 shares of the semiconductor company’s stock worth $236,000 after acquiring an additional 60 shares during the period. Wade G W & Inc. boosted its holdings in Analog Devices by 4.6% in the 1st quarter. Wade G W & Inc. now owns 1,465 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 65 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Analog Devices by 4.6% in the second quarter. Fisher Asset Management LLC now owns 1,697 shares of the semiconductor company’s stock valued at $292,000 after buying an additional 74 shares in the last quarter. Finally, Parsons Capital Management Inc. RI grew its stake in shares of Analog Devices by 2.8% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,947 shares of the semiconductor company’s stock worth $507,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 99.18% of the company’s stock.

Shares of Analog Devices stock opened at $173.47 on Wednesday. The firm has a market capitalization of $63.87 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $166.34 and its 200 day simple moving average is $161.23. Analog Devices, Inc. has a 12 month low of $110.66 and a 12 month high of $175.25.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, August 17th. The semiconductor company reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Analog Devices had a return on equity of 18.86% and a net margin of 26.15%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. Analysts predict that Analog Devices, Inc. will post 6.41 EPS for the current fiscal year.

Analog Devices announced that its board has approved a share repurchase program on Wednesday, August 25th that authorizes the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 13.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Friday, August 27th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 26th. Analog Devices’s dividend payout ratio is currently 56.21%.

Several analysts have issued reports on ADI shares. Needham & Company LLC started coverage on shares of Analog Devices in a report on Thursday, September 9th. They issued a “buy” rating and a $200.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Analog Devices from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Bank of America boosted their price objective on shares of Analog Devices from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Sanford C. Bernstein raised shares of Analog Devices from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $185.00 in a research report on Thursday, May 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Analog Devices from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, September 9th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Buy” and a consensus target price of $181.40.

Analog Devices Profile

Analog Devices, Inc engages in the design, development, manufacture, and marketing of integrated circuits (ICs). Its products include industrial process control systems, medical imaging equipment, factory process automation systems, patient vital signs monitoring devices, instrumentation and measurement systems, wireless infrastructure equipment, energy management systems, networking equipment, aerospace and defense electronics, optical systems, automobiles, and portable consumer devices.

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

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