Fortem Financial Group LLC Buys 116 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fortem Financial Group LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,397 shares of the semiconductor company’s stock after purchasing an additional 116 shares during the quarter. Fortem Financial Group LLC’s holdings in Analog Devices were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in Analog Devices by 544.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 158 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices in the third quarter worth $43,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Analog Devices during the third quarter worth $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.3 %

Shares of ADI stock traded up $2.83 during trading on Monday, reaching $218.20. The company’s stock had a trading volume of 1,410,290 shares, compared to its average volume of 2,087,651. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The business has a fifty day moving average price of $217.62 and a 200-day moving average price of $223.30. The company has a market cap of $108.29 billion, a price-to-earnings ratio of 66.32, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. 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 issued its quarterly 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 net margin of 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 EPS. Analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADI. Morgan Stanley reduced their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Truist Financial decreased their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.33.

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.