Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,467 shares of the semiconductor company’s stock after purchasing an additional 4,998 shares during the period. DAVENPORT & Co LLC owned about 0.07% of Analog Devices worth $65,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Halpern Financial Inc. increased its position in shares of Analog Devices by 331.4% during the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. Fortis Capital Advisors LLC acquired a new position in Analog Devices in the 1st quarter valued at about $31,000. Silver Oak Securities Incorporated acquired a new position in Analog Devices in the 3rd quarter valued at about $29,000. West Tower Group LLC acquired a new position in Analog Devices in the 2nd quarter valued at about $32,000. Finally, Quarry LP increased its position in Analog Devices by 267.4% in the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,228 shares of company stock worth $4,137,802. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ADI. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research report on Thursday, January 4th. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Truist Financial dropped their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley restated an “overweight” rating and issued a $212.00 price target (down previously from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Edward Jones upgraded Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $206.26.

View Our Latest Report on ADI

Analog Devices Price Performance

Shares of ADI traded down $1.74 on Tuesday, reaching $194.88. The stock had a trading volume of 2,495,800 shares, compared to its average volume of 3,404,978. The firm has a market capitalization of $96.64 billion, a PE ratio of 34.86, a PEG ratio of 4.96 and a beta of 1.17. 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 50-day moving average of $193.13 and a 200 day moving average of $184.95. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly 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 business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.75 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Analog Devices Profile

(Free Report)

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.

See Also

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

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