Alpha DNA Investment Management LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 149.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 21,470 shares of the semiconductor company's stock after acquiring an additional 12,879 shares during the quarter. Analog Devices comprises about 1.7% of Alpha DNA Investment Management LLC's portfolio, making the stock its 6th biggest holding. Alpha DNA Investment Management LLC's holdings in Analog Devices were worth $4,562,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of ADI. Midwest Professional Planners LTD. lifted its stake in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC boosted its stake in shares of Analog Devices by 1.3% during the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC grew its holdings in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC increased its stake in shares of Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after buying an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ADI has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group lifted their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley set a $214.00 target price on shares of Analog Devices in a research note on Monday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $250.43.
Check Out Our Latest Analysis on Analog Devices
Insider Buying and Selling
In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock valued at $6,154,756 in the last ninety days. 0.33% of the stock is owned by company insiders.
Analog Devices Price Performance
NASDAQ:ADI traded up $5.39 during trading hours on Wednesday, hitting $183.89. 1,636,045 shares of the stock traded hands, compared to its average volume of 3,454,851. The stock has a 50 day moving average price of $204.78 and a 200 day moving average price of $213.53. 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 company has a market cap of $91.21 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Increases Dividend
The company 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 annualized dividend and a yield of 2.15%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio is presently 126.11%.
Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.
About Analog Devices
(
Free Report)
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.
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