Hickory Asset Management Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Hickory Asset Management Inc. purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,723 shares of the semiconductor company’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after acquiring an additional 106,664 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after acquiring an additional 135,838 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. FMR LLC grew its stake in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after acquiring an additional 226,716 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

Shares of ADI stock opened at $214.61 on Friday. The business’s 50-day moving average price is $214.11 and its 200-day moving average price is $219.80. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The firm has a market capitalization of $106.47 billion, a price-to-earnings ratio of 65.23, a PEG ratio of 2.38 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADI. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.52.

About Analog Devices

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.