Aspire Growth Partners LLC Invests $680,000 in Analog Devices, Inc. (NASDAQ:ADI)

Aspire Growth Partners LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,201 shares of the semiconductor company's stock, valued at approximately $680,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,755,958,000. Raymond James Financial Inc. purchased a new position in Analog Devices during the fourth quarter worth about $833,386,000. Proficio Capital Partners LLC boosted its stake in Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after buying an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. grew its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,809 shares of company stock worth $8,123,156. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADI shares. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays cut their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $214.00 price target on Analog Devices in a research note on Monday, April 21st. Finally, Wells Fargo & Company lifted their price objective on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Analog Devices Price Performance

ADI stock opened at $198.59 on Friday. The stock's 50 day moving average is $198.79 and its two-hundred day moving average is $211.59. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a market capitalization of $98.50 billion, a PE ratio of 63.25, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business's revenue was down 3.6% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is 126.11%.

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.

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