Thurston Springer Miller Herd & Titak Inc. Purchases 4,372 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 55.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,272 shares of the semiconductor company's stock after acquiring an additional 4,372 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Analog Devices were worth $2,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter valued at approximately $28,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the third quarter valued at $43,000. Reston Wealth Management LLC bought a new position in shares of Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Analog Devices in the 3rd quarter worth about $80,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Wells Fargo & Company initiated 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 decreased 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. Morgan Stanley cut their target price on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $249.48.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $11,029,300 over the last quarter. Corporate insiders own 0.31% of the company's stock.

Analog Devices Trading Up 1.7 %

Shares of NASDAQ ADI traded up $3.57 during mid-day trading on Wednesday, hitting $218.22. 3,302,524 shares of the company traded hands, compared to its average volume of 3,007,097. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The stock has a market capitalization of $108.30 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 2.47 and a beta of 1.05. The business has a 50 day moving average of $216.19 and a two-hundred day moving average of $222.69.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business's quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is currently 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.