Asset Dedication LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 184.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478 shares of the semiconductor company’s stock after purchasing an additional 310 shares during the quarter. Asset Dedication LLC’s holdings in Analog Devices were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in ADI. Coston McIsaac & Partners purchased a new stake in shares of Analog Devices during the 2nd quarter worth approximately $27,000. My Personal CFO LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $29,000. Worth Asset Management LLC purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $33,000. Eagle Bay Advisors LLC purchased a new stake in shares of Analog Devices during the 2nd quarter worth approximately $41,000. Finally, Old North State Trust LLC purchased a new stake in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Analog Devices Trading Up 3.0 %
ADI stock opened at $189.17 on Thursday. The company has a market cap of $95.69 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.45 and a beta of 1.14. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $181.72 and a 200-day simple moving average of $165.12. Analog Devices, Inc. has a 52 week low of $133.48 and a 52 week high of $196.41.
Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.15. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.15 billion. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 10.6 EPS for the current year.
Analog Devices Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 8th. Stockholders of record on Monday, February 27th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Analog Devices’s previous quarterly dividend of $0.76. The ex-dividend date was Friday, February 24th. Analog Devices’s dividend payout ratio is presently 51.89%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on ADI shares. Cowen lifted their price objective on Analog Devices from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, December 9th. Truist Financial lifted their price objective on Analog Devices from $215.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Morgan Stanley lifted their price objective on Analog Devices from $177.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. Citigroup lifted their price objective on Analog Devices from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Finally, BMO Capital Markets lifted their price objective on Analog Devices from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $213.68.
Insider Transactions at Analog Devices
In other news, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the sale, the chief financial officer now directly owns 23,871 shares in the company, valued at approximately $4,464,115.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, Director James Champy sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,181,438.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $187.01, for a total transaction of $4,909,012.50. Following the completion of the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The disclosure for this sale can be found here. Insiders sold a total of 40,445 shares of company stock worth $7,606,735 in the last ninety days. Insiders own 0.46% of the company’s stock.
About Analog Devices
Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.
Featured Stories
Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI – Get Rating).
Receive News & Ratings for Analog Devices Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Analog Devices and related companies with MarketBeat.com’s FREE daily email newsletter.