Fenimore Asset Management Inc Buys 3,555 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fenimore Asset Management Inc lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,034 shares of the semiconductor company's stock after purchasing an additional 3,555 shares during the quarter. Analog Devices accounts for approximately 2.0% of Fenimore Asset Management Inc's holdings, making the stock its 18th biggest position. Fenimore Asset Management Inc owned approximately 0.10% of Analog Devices worth $96,607,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADI. Broderick Brian C raised its stake in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Analog Devices during the fourth quarter valued at $10,212,000. Vest Financial LLC increased its holdings in Analog Devices by 47.7% in the 4th quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company's stock worth $1,482,000 after buying an additional 2,252 shares in the last quarter. CIBC Asset Management Inc raised its position in Analog Devices by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company's stock worth $38,928,000 after buying an additional 3,529 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in Analog Devices in the 4th quarter worth about $906,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of ADI traded down $0.80 during midday trading on Wednesday, hitting $232.54. 3,311,110 shares of the company traded hands, compared to its average volume of 3,570,475. The firm has a 50 day moving average of $202.55 and a 200-day moving average of $210.69. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The stock has a market cap of $115.40 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. Analog Devices's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.70%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,934 shares of company stock worth $6,643,956. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADI shares. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. Truist Financial increased their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Cantor Fitzgerald lifted their target price on shares of Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. KGI Securities began coverage on shares of Analog Devices in a research note on Friday, May 23rd. They set a "buy" rating for the company. Finally, Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

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.