Tidal Investments LLC Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Tidal Investments LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,314 shares of the semiconductor company’s stock after acquiring an additional 2,188 shares during the quarter. Tidal Investments LLC’s holdings in Analog Devices were worth $5,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter valued at $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $29,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC raised its position in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Analog Devices during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now directly owns 79,093 shares in the company, valued at approximately $18,106,760.49. This trade represents a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the sale, the chief executive officer now directly owns 45,326 shares of the company’s stock, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $24,754,600 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Oppenheimer reiterated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. raised their price target on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Morgan Stanley dropped their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial decreased their target price on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Down 0.5 %

Shares of NASDAQ:ADI opened at $216.61 on Friday. The company has a market capitalization of $107.50 billion, a price-to-earnings ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a 50 day moving average of $222.16 and a two-hundred day moving average of $225.53. Analog Devices, Inc. has a 52-week low of $181.80 and a 52-week high of $244.14. 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 (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (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 the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

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.