Scissortail Wealth Management LLC Invests $2.33 Million in Analog Devices, Inc. (NASDAQ:ADI)

Scissortail Wealth Management LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,798 shares of the semiconductor company’s stock, valued at approximately $2,327,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Analog Devices in the 4th quarter valued at about $1,040,194,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Analog Devices by 101,479.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after buying an additional 4,107,895 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Analog Devices by 236.6% in the 2nd quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after buying an additional 1,625,377 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Analog Devices by 639.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after buying an additional 1,486,180 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.94 during midday trading on Tuesday, hitting $191.23. The company had a trading volume of 2,268,041 shares, compared to its average volume of 3,351,054. The company’s 50 day simple moving average is $193.20 and its 200 day simple moving average is $186.33. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. The stock has a market cap of $94.83 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 4.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.92%. Analog Devices’s payout ratio is 65.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Evercore ISI assumed coverage on Analog Devices in a research report on Tuesday. They set an “outperform” rating and a $254.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

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.