ExodusPoint Capital Management LP Takes $4.92 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

ExodusPoint Capital Management LP bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,148 shares of the semiconductor company’s stock, valued at approximately $4,918,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC raised its position in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the 4th quarter valued at $41,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Finally, UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Trading Down 9.0 %

NASDAQ:ADI opened at $164.60 on Friday. The company has a market cap of $81.64 billion, a P/E ratio of 52.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a twelve month low of $164.14 and a twelve month high of $247.10. The business has a 50 day moving average price of $213.22 and a two-hundred day moving average price of $218.31. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock valued at $5,591,600. Insiders own 0.33% of the company’s stock.

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.