Light Street Capital Management LLC Makes New Investment in Analog Devices, Inc. $ADI

by · The Markets Daily

Light Street Capital Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) during the second quarter, Holdings Channel.com reports. The firm bought 6,070 shares of the semiconductor company’s stock, valued at approximately $1,445,000. Analog Devices makes up about 0.3% of Light Street Capital Management LLC’s holdings, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fullerton Fund Management Co Ltd. acquired a new stake in shares of Analog Devices in the 2nd quarter worth about $67,604,000. EP Wealth Advisors LLC grew its position in Analog Devices by 6.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,362 shares of the semiconductor company’s stock worth $2,228,000 after purchasing an additional 595 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Analog Devices by 519.4% in the second quarter. Engineers Gate Manager LP now owns 132,679 shares of the semiconductor company’s stock valued at $31,580,000 after purchasing an additional 111,258 shares during the period. Curi Capital LLC raised its holdings in shares of Analog Devices by 17.5% during the second quarter. Curi Capital LLC now owns 135,615 shares of the semiconductor company’s stock valued at $32,279,000 after buying an additional 20,156 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Analog Devices by 12.4% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 23,734 shares of the semiconductor company’s stock valued at $5,649,000 after buying an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADI. Wells Fargo & Company increased their price objective on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Robert W. Baird boosted their price target on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Analog Devices in a report on Monday. BNP Paribas Exane initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price objective on the stock. Finally, KeyCorp upped their price objective on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $283.61.

Read Our Latest Research Report on ADI

Analog Devices Stock Down 1.4%

ADI opened at $279.32 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market capitalization of $136.77 billion, a PE ratio of 61.25, a P/E/G ratio of 1.57 and a beta of 1.04. The stock’s fifty day moving average is $246.14 and its 200-day moving average is $240.13. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23.

Analog Devices (NASDAQ:ADI – Get Free Report) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business posted $1.67 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s payout ratio is currently 86.84%.

Insider Buying and Selling at Analog Devices

In related news, Director Edward H. Frank sold 1,000 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,419 shares of company stock valued at $8,791,598 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analog Devices Profile

(Free Report)

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.

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