Empirical Asset Management LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,509 shares of the semiconductor company's stock after purchasing an additional 2,060 shares during the period. Empirical Asset Management LLC's holdings in Analog Devices were worth $3,720,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Grove Bank & Trust grew its stake in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after purchasing an additional 43 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after buying an additional 48 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after buying an additional 48 shares during the last quarter. Bank of Hawaii raised its holdings in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after acquiring an additional 48 shares in the last quarter. Finally, MONECO Advisors LLC boosted its stake in Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company's stock valued at $419,000 after acquiring an additional 50 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price objective for the company. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Piper Sandler decreased 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. Finally, Truist Financial upped their price target on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.57.
Check Out Our Latest Research Report on ADI
Insider Buying and Selling
In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $11,029,300 over the last three months. Company insiders own 0.31% of the company's stock.
Analog Devices Stock Performance
Shares of NASDAQ ADI traded up $4.14 during midday trading on Friday, hitting $219.16. 2,871,098 shares of the company's stock were exchanged, compared to its average volume of 3,007,400. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The stock's 50 day moving average price is $215.78 and its 200-day moving average price is $222.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market cap of $108.74 billion, a P/E ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 earnings per share. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.
Analog Devices Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices's dividend payout ratio is currently 111.85%.
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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