Capital Investment Advisory Services LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Capital Investment Advisory Services LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,021 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other large investors have also made changes to their positions in ADI. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Analog Devices by 20,527.8% in the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Analog Devices by 193.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Analog Devices by 7.5% in the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Up 3.5 %

Analog Devices stock opened at $196.50 on Thursday. The business has a fifty day moving average of $192.97 and a two-hundred day moving average of $187.00. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a market cap of $97.45 billion, a P/E ratio of 35.15, a P/E/G ratio of 4.67 and a beta of 1.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADI. Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. Truist Financial reduced their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.17.

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.