Nicholson Wealth Management Group LLC Acquires 70 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nicholson Wealth Management Group LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,432 shares of the semiconductor company’s stock after buying an additional 70 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Analog Devices were worth $1,499,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in Analog Devices by 284.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company’s stock worth $6,262,000 after acquiring an additional 22,973 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $10,212,000. Sowell Financial Services LLC purchased a new stake in shares of Analog Devices in the first quarter valued at about $296,000. Keybank National Association OH raised its holdings in shares of Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company’s stock valued at $5,461,000 after purchasing an additional 12,505 shares during the last quarter. Finally, Eastern Bank increased its holdings in Analog Devices by 6.0% during the first quarter. Eastern Bank now owns 196,677 shares of the semiconductor company’s stock worth $39,664,000 after buying an additional 11,101 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Up 1.1%

Shares of ADI opened at $223.12 on Friday. The firm has a market cap of $110.72 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 2.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.73. The firm has a 50 day moving average price of $232.10 and a 200-day moving average price of $215.76.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.8%. Analog Devices’s dividend payout ratio is presently 107.90%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADI. Keefe, Bruyette & Woods upgraded shares of Analog Devices to an “outperform” rating in a research note on Wednesday, June 18th. Benchmark restated a “buy” rating and issued a $260.00 price objective (down from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Stifel Nicolaus raised their price objective on shares of Analog Devices from $248.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, July 18th. KeyCorp raised their price objective on shares of Analog Devices from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Finally, Noble Financial upgraded shares of Analog Devices to an “outperform” rating in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the sale, the director owned 167,571 shares of the company’s stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

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.