Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Norden Group LLC

Norden Group LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,456 shares of the semiconductor company’s stock after purchasing an additional 101 shares during the quarter. Norden Group LLC’s holdings in Analog Devices were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ADI. Proficio Capital Partners LLC boosted its position in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. boosted its position in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Holocene Advisors LP boosted its position in Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Finally, FMR LLC boosted its position in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADI. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $228.53 on Tuesday. The business has a fifty day moving average of $217.82 and a two-hundred day moving average of $221.14. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $113.35 billion, a price-to-earnings ratio of 72.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analog Devices Company 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.