Gotham Asset Management LLC Buys 2,870 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Gotham Asset Management LLC increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,275 shares of the semiconductor company’s stock after acquiring an additional 2,870 shares during the period. Gotham Asset Management LLC’s holdings in Analog Devices were worth $6,645,000 as of its most recent SEC filing.

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

Analog Devices Stock Up 1.6%

ADI stock opened at $226.68 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The business’s 50 day moving average price is $195.99 and its two-hundred day moving average price is $210.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market capitalization of $112.43 billion, a price-to-earnings ratio of 72.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

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

Analog Devices announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. 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 1.75%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company’s stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley set a $214.00 price target on Analog Devices in a report on Monday, April 21st. Citigroup reduced their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.20.

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.