Potomac Fund Management Inc. ADV Buys Shares of 5,003 Analog Devices, Inc. (NASDAQ:ADI)

Potomac Fund Management Inc. ADV acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,003 shares of the semiconductor company's stock, valued at approximately $1,063,000. Analog Devices comprises about 1.0% of Potomac Fund Management Inc. ADV's portfolio, making the stock its 29th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,684 shares of company stock valued at $5,591,600 over the last ninety days. Insiders own 0.33% of the company's stock.

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Analog Devices Price Performance

ADI traded down $16.28 during trading on Friday, reaching $164.60. The stock had a trading volume of 9,622,216 shares, compared to its average volume of 3,342,913. The stock has a 50 day moving average of $213.22 and a two-hundred day moving average of $218.31. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $81.64 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 1-year low of $164.14 and a 1-year high of $247.10.

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

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase 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 2.41%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analyst Ratings Changes

Several brokerages recently issued reports on ADI. Wells Fargo & Company raised 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. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Morgan Stanley boosted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $255.41.

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.