Invictus RG Purchases New Stake in Analog Devices, Inc. (ADI)

Invictus RG purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 3,715 shares of the semiconductor company’s stock, valued at approximately $343,000.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $392,000. Alps Advisors Inc. acquired a new stake in shares of Analog Devices during the 2nd quarter worth about $272,000. Victory Capital Management Inc. raised its position in shares of Analog Devices by 11.0% during the 2nd quarter. Victory Capital Management Inc. now owns 40,775 shares of the semiconductor company’s stock worth $3,911,000 after acquiring an additional 4,025 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Analog Devices by 8.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 32,171 shares of the semiconductor company’s stock worth $3,086,000 after acquiring an additional 2,512 shares in the last quarter. Finally, Barings LLC raised its position in shares of Analog Devices by 167.1% during the 2nd quarter. Barings LLC now owns 41,818 shares of the semiconductor company’s stock worth $4,011,000 after acquiring an additional 26,164 shares in the last quarter. 89.57% of the stock is currently owned by institutional investors.

Shares of ADI stock opened at $89.53 on Friday. Analog Devices, Inc. has a twelve month low of $76.62 and a twelve month high of $103.59. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.33 and a beta of 1.27. The company has a current ratio of 1.50, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 20th. The semiconductor company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. Analog Devices had a return on equity of 20.88% and a net margin of 24.12%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $1.45 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 5.5 EPS for the current year.

Analog Devices announced that its board has authorized a share buyback plan on Tuesday, August 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 29th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, November 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.14%. Analog Devices’s dividend payout ratio (DPR) is presently 32.32%.

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $92.81, for a total value of $928,100.00. Following the sale, the chief executive officer now directly owns 27,376 shares in the company, valued at $2,540,766.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Margaret K. Seif sold 2,700 shares of Analog Devices stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $243,000.00. Following the completion of the sale, the senior vice president now owns 24,517 shares in the company, valued at $2,206,530. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,800 shares of company stock worth $4,601,096. Company insiders own 1.10% of the company’s stock.

Several research analysts have commented on ADI shares. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Thursday, August 23rd. Stifel Nicolaus lifted their price target on Analog Devices from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. B. Riley cut their price target on Analog Devices from $120.00 to $117.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. BidaskClub raised Analog Devices from a “sell” rating to a “hold” rating in a research report on Saturday, August 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $107.00 price target on shares of Analog Devices in a research report on Monday, August 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.52.

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Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, and markets a portfolio of solutions that leverage analog, mixed-signal, and digital signal processing technology, including integrated circuits (ICs), algorithms, software, and subsystems. It offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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