McLean Asset Management Corp Buys New Shares in Analog Devices, Inc. (NASDAQ:ADI)

McLean Asset Management Corp bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 983 shares of the semiconductor company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. lifted its stake in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. USA Financial Formulas lifted its stake in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in Analog Devices during the third quarter valued at approximately $29,000. Cetera Trust Company N.A acquired a new stake in Analog Devices during the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Analog Devices during the fourth quarter valued at approximately $29,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, Director James Champy sold 4,200 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $233.55, for a total value of $980,910.00. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,487,947.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. In the last three months, insiders sold 50,121 shares of company stock valued at $10,875,654. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Bank of America boosted their price target on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Susquehanna boosted their price target on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday, May 23rd. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Analog Devices in a report on Monday, May 13th. They set a “buy” rating and a $250.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.23.

Analog Devices Stock Up 0.7 %

ADI stock traded up $1.54 during trading hours on Friday, hitting $231.05. The company’s stock had a trading volume of 7,366,423 shares, compared to its average volume of 3,373,503. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $114.65 billion, a PE ratio of 53.98, a price-to-earnings-growth ratio of 3.97 and a beta of 1.12. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The stock has a 50 day moving average price of $216.13 and a two-hundred day moving average price of $201.03.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.83 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

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.