Fenimore Asset Management Inc Acquires 1,564 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fenimore Asset Management Inc raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475,479 shares of the semiconductor company’s stock after purchasing an additional 1,564 shares during the quarter. Analog Devices accounts for about 2.1% of Fenimore Asset Management Inc’s portfolio, making the stock its 18th largest position. Fenimore Asset Management Inc owned about 0.10% of Analog Devices worth $101,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Charles Schwab Investment Management Inc. grew its holdings in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank grew its stake in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Summit Global Investments purchased a new position in Analog Devices during the 3rd quarter valued at $867,000. Finally, Versor Investments LP bought a new position in Analog Devices in the 3rd quarter valued at $952,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 4.8 %

Shares of ADI stock opened at $217.37 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm has a market capitalization of $107.85 billion, a PE ratio of 66.07, a P/E/G ratio of 2.57 and a beta of 1.05. The stock’s 50-day simple moving average is $216.42 and its 200-day simple moving average is $222.27.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. 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, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

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.