Baer Investment Advisory LLC Takes $3.74 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Baer Investment Advisory LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,406 shares of the semiconductor company's stock, valued at approximately $3,743,000. Analog Devices makes up 7.8% of Baer Investment Advisory LLC's investment portfolio, making the stock its 2nd largest position.

Other hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Mainstream Capital Management LLC bought a new stake in Analog Devices in the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, Financial Life Planners bought a new stake in Analog Devices in the fourth quarter valued at about $33,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Barclays upped their price target on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. 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 research note on Thursday, February 20th. Finally, Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $248.63.

Analog Devices Stock Performance

Shares of ADI traded down $1.27 during trading hours on Wednesday, reaching $215.62. 3,717,590 shares of the company traded hands, compared to its average volume of 3,526,102. The stock's fifty day moving average is $197.89 and its 200 day moving average is $210.07. The stock has a market cap of $106.94 billion, a P/E ratio of 68.67, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. 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, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The company's quarterly revenue was up 22.3% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.84%. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock valued at $8,735,156 over the last three months. 0.33% of the stock is owned by insiders.

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.