Nisa Investment Advisors LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Nisa Investment Advisors LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,897 shares of the semiconductor company’s stock after buying an additional 1,722 shares during the period. Nisa Investment Advisors LLC’s holdings in Analog Devices were worth $43,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares in the last quarter. Swiss National Bank lifted its position in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Summit Global Investments bought a new position in Analog Devices during the third quarter valued at approximately $867,000. Finally, Versor Investments LP purchased a new position in shares of Analog Devices during the third quarter worth approximately $952,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADI shares. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen lowered their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Price Performance

ADI opened at $221.45 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market cap of $109.87 billion, a price-to-earnings ratio of 67.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. The stock has a fifty day simple moving average of $215.62 and a two-hundred day simple moving average of $222.39. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued 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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the business earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.66%. Analog Devices’s payout ratio is currently 111.85%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated 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 of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.