Talos Asset Management LP Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

Talos Asset Management LP acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 115,300 shares of the semiconductor company's stock, valued at approximately $24,497,000. Analog Devices makes up about 5.8% of Talos Asset Management LP's portfolio, making the stock its 5th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock valued at $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares during the period. Curbstone Financial Management Corp acquired a new position in Analog Devices during the fourth quarter valued at approximately $460,000. Czech National Bank raised its position in shares of Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock valued at $22,871,000 after purchasing an additional 6,566 shares during the period. Finally, Synergy Asset Management LLC lifted its stake in shares of Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after buying an additional 2,554 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research analysts recently commented on ADI shares. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,000 shares of company stock valued at $5,082,860. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $7.94 during midday trading on Monday, reaching $212.34. 3,457,578 shares of the company traded hands, compared to its average volume of 3,112,188. The stock's 50-day simple moving average is $217.17 and its 200-day simple moving average is $219.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The firm has a market cap of $105.32 billion, a PE ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

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

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.