Thompson Investment Management Inc. Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Thompson Investment Management Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,890 shares of the semiconductor company’s stock after buying an additional 375 shares during the quarter. Thompson Investment Management Inc.’s holdings in Analog Devices were worth $3,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank increased its position in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices during the fourth quarter worth about $460,000. Finally, Summit Global Investments purchased a new stake in shares of Analog Devices during the third quarter worth about $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

ADI has been the subject of several research analyst reports. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research 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 research report on Friday, January 10th. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices 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 for the company in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Trading Down 1.3 %

Shares of NASDAQ:ADI opened at $205.21 on Friday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The business’s fifty day simple moving average is $215.21 and its 200-day simple moving average is $220.35. The company has a market capitalization of $101.81 billion, a PE ratio of 62.37, a P/E/G 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 earnings per share (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 business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $2.01 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued 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 dividend yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.