Pinpoint Asset Management Ltd Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Pinpoint Asset Management Ltd acquired 7,200 shares of Analog Devices, Inc. in the 1st quarter, totaling approximately $1.45 million.
• Analog Devices recently reported $1.85 EPS for the last quarter, exceeding estimates and showing a 22.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.99 per share, indicating a yield of 1.8%, with a payout ratio currently at 107.90%.

Pinpoint Asset Management Ltd purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 7,200 shares of the semiconductor company's stock, valued at approximately $1,452,000.

A number of other large investors have also recently bought and sold shares of ADI. Orion Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $27,000. Menard Financial Group LLC purchased a new stake in Analog Devices in the 4th quarter valued at about $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $27,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $33,000. Finally, North Capital Inc. purchased a new stake in shares of Analog Devices during the 1st quarter worth approximately $36,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADI. 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 report on Friday, May 23rd. Benchmark restated a "buy" rating and set a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. KeyCorp boosted their target price on Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $250.00 to $270.00 in a research note on Wednesday, June 18th. Finally, Evercore ISI boosted their price target on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Price Performance

ADI traded up $0.83 during trading on Friday, hitting $223.95. 3,078,240 shares of the company traded hands, compared to its average volume of 3,379,463. The company has a market cap of $111.14 billion, a PE ratio of 61.02, a P/E/G ratio of 2.06 and a beta of 1.05. The stock's 50-day simple moving average is $232.32 and its two-hundred day simple moving average is $215.78. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.73. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $1.40 earnings per share. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

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.