EdgeRock Capital LLC Buys Shares of 241 Analog Devices, Inc. (NASDAQ:ADI)

EdgeRock Capital LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 241 shares of the semiconductor company’s stock, valued at approximately $46,000.

Several other institutional investors also recently modified their holdings of the business. Amarillo National Bank boosted its stake in Analog Devices by 3.7% during the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services boosted its stake in Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 55 shares during the period. Ancora Advisors LLC grew its holdings in shares of Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares in the last quarter. Legacy Advisors LLC increased its holdings in shares of Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after buying an additional 59 shares during the last quarter. Finally, MRA Advisory Group raised its holdings in shares of Analog Devices by 2.5% during the 3rd quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after buying an additional 61 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 in the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 0.6 %

Shares of Analog Devices stock traded up $1.29 during trading on Wednesday, hitting $204.86. 2,464,271 shares of the stock were exchanged, compared to its average volume of 3,330,833. 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, Inc. has a 12-month low of $154.99 and a 12-month high of $205.77. The stock has a market cap of $101.59 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14. The firm’s 50-day moving average price is $194.85 and its 200 day moving average price is $188.89.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) 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 analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ADI shares. Truist Financial lowered their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Finally, KeyCorp lifted their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $208.17.

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.