Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Norden Group LLC

Norden Group LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,657 shares of the semiconductor company’s stock after buying an additional 284 shares during the quarter. Norden Group LLC’s holdings in Analog Devices were worth $329,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. increased its stake in Analog Devices by 15.9% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 11,697 shares of the semiconductor company’s stock valued at $2,323,000 after buying an additional 1,608 shares during the period. Ledyard National Bank boosted its holdings in shares of Analog Devices by 39.8% in the fourth quarter. Ledyard National Bank now owns 3,431 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 977 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Analog Devices by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock worth $574,002,000 after acquiring an additional 358,697 shares during the period. Adell Harriman & Carpenter Inc. raised its holdings in Analog Devices by 11.0% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 1,397 shares of the semiconductor company’s stock worth $277,000 after purchasing an additional 139 shares in the last quarter. Finally, Choreo LLC lifted its position in Analog Devices by 154.3% in the fourth quarter. Choreo LLC now owns 4,923 shares of the semiconductor company’s stock valued at $978,000 after purchasing an additional 2,987 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,707 shares of company stock valued at $2,904,013. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $193.89 on Thursday. The company has a 50-day simple moving average of $193.99 and a 200-day simple moving average of $187.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company has a market cap of $96.15 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 5.12 and a beta of 1.17. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.90%. Analog Devices’s dividend payout ratio is 65.83%.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. KeyCorp increased their price objective 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 restated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. The Goldman Sachs Group increased their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Truist Financial reduced 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. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

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.