ExodusPoint Capital Management LP Makes New $4.92 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

ExodusPoint Capital Management LP bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 23,148 shares of the semiconductor company's stock, valued at approximately $4,918,000.

A number of other large investors have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the fourth quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC increased its stake 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 purchasing an additional 55 shares in the last quarter. Financial Life Planners acquired a new position in Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 0.4 %

Shares of ADI traded up $0.80 during mid-day trading on Friday, reaching $179.16. 6,528,835 shares of the stock traded hands, compared to its average volume of 3,444,715. The stock has a fifty day simple moving average of $208.90 and a 200 day simple moving average of $216.04. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. 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 cap of $88.86 billion, a price-to-earnings ratio of 57.06, a P/E/G ratio of 2.85 and a beta of 1.06.

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Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Sell-side analysts expect 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 allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

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 $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.21%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was 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 owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,684 shares of company stock worth $5,591,600 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Citigroup reduced their price target on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Friday. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. Finally, Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $254.73.

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.