Fortem Financial Group LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Fortem Financial Group LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 39.3% during the third quarter, HoldingsChannel.com reports. The fund owned 6,281 shares of the semiconductor company’s stock after purchasing an additional 1,771 shares during the quarter. Fortem Financial Group LLC’s holdings in Analog Devices were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth $29,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices during the second quarter worth $37,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Morgan Stanley reduced their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America reduced their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. The trade was a 18.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $22,596,300 in the last 90 days. 0.31% of the stock is owned by company insiders.

Analog Devices Trading Down 1.6 %

Analog Devices stock opened at $215.61 on Wednesday. The stock has a market cap of $107.01 billion, a PE ratio of 65.53, a P/E/G ratio of 2.48 and a beta of 1.05. The stock has a 50-day moving average price of $222.95 and a 200 day moving average price of $225.88. Analog Devices, Inc. has a 52 week low of $181.80 and a 52 week high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

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.