Sycomore Asset Management Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Sycomore Asset Management acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 44,251 shares of the semiconductor company’s stock, valued at approximately $9,910,000. Analog Devices accounts for approximately 1.3% of Sycomore Asset Management’s portfolio, making the stock its 26th largest holding.

Other institutional investors have also recently modified their holdings of the company. Raymond James & Associates grew its stake in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. grew its position in shares of 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 buying an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $205.21 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $215.21 and its two-hundred day moving average is $220.28. The firm has a market capitalization of $101.81 billion, a P/E ratio of 62.37, a PEG ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADI. Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Truist Financial increased their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

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.