Analog Devices, Inc. (NASDAQ:ADI) Position Boosted by Mutual Advisors LLC

Mutual Advisors LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,707 shares of the semiconductor company’s stock after acquiring an additional 214 shares during the quarter. Mutual Advisors LLC’s holdings in Analog Devices were worth $537,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Penobscot Investment Management Company Inc. grew its stake in shares of Analog Devices by 7.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock valued at $1,766,000 after buying an additional 658 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Analog Devices by 5.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock valued at $28,924,000 after buying an additional 7,021 shares in the last quarter. First Foundation Advisors boosted its position in Analog Devices by 0.6% during the second quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after purchasing an additional 97 shares during the period. Rockline Wealth Management LLC bought a new stake in Analog Devices during the fourth quarter worth approximately $334,000. Finally, Commonwealth Equity Services LLC boosted its position in Analog Devices by 3.1% during the third quarter. Commonwealth Equity Services LLC now owns 292,441 shares of the semiconductor company’s stock worth $51,204,000 after purchasing an additional 8,914 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price (down previously from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Truist Financial cut their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, KeyCorp upped their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.26.

Analog Devices Price Performance

Shares of ADI stock opened at $193.33 on Thursday. The stock’s fifty day moving average is $192.77 and its 200-day moving average is $184.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market capitalization of $95.87 billion, a PE ratio of 34.58, a PEG ratio of 4.78 and a beta of 1.17. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $202.77.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Insider Activity

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold 21,228 shares of company stock worth $4,134,502 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.