ABC Arbitrage SA Invests $2.54 Million in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• ABC Arbitrage SA has acquired 12,585 shares of Analog Devices, Inc. (NASDAQ:ADI), valued at approximately $2.54 million, indicating growing institutional interest in the semiconductor sector.
• Analog Devices reported a quarterly earnings per share (EPS) of $1.85, surpassing expectations, with significant revenue growth of 22.3% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.99 per share, with an annualized yield of 1.8%, reflecting its strong financial performance despite a high payout ratio of 107.90%.

ABC Arbitrage SA acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,585 shares of the semiconductor company's stock, valued at approximately $2,538,000.

A number of other institutional investors have also modified their holdings of ADI. Continuum Advisory LLC grew its stake in shares of Analog Devices by 14.8% in the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock worth $89,000 after purchasing an additional 57 shares in the last quarter. Proficio Capital Partners LLC grew its position in Analog Devices by 0.4% in the 1st quarter. Proficio Capital Partners LLC now owns 14,523 shares of the semiconductor company's stock valued at $2,929,000 after buying an additional 58 shares in the last quarter. Alps Advisors Inc. grew its position in Analog Devices by 1.1% in the 1st quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock valued at $1,147,000 after buying an additional 60 shares in the last quarter. Sfmg LLC increased its stake in Analog Devices by 2.7% during the 1st quarter. Sfmg LLC now owns 2,301 shares of the semiconductor company's stock valued at $464,000 after buying an additional 60 shares during the period. Finally, Keystone Financial Services raised its position in shares of Analog Devices by 1.6% during the 1st quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock worth $765,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analyst Ratings Changes

ADI has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Piper Sandler dropped their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. KeyCorp raised their target price on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Oppenheimer boosted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Benchmark reissued a "buy" rating and issued a $260.00 price target (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Up 1.1%

NASDAQ:ADI traded up $2.43 during trading hours on Thursday, hitting $223.12. 2,474,972 shares of the company's stock traded hands, compared to its average volume of 3,374,781. The stock's fifty day moving average price is $232.10 and its two-hundred day moving average price is $215.76. The firm has a market cap of $110.72 billion, a P/E ratio of 60.80, a P/E/G ratio of 2.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is currently 107.90%.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.

Analog Devices 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.