Baer Investment Advisory LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,406 shares of the semiconductor company's stock, valued at approximately $3,743,000. Analog Devices accounts for about 7.8% of Baer Investment Advisory LLC's portfolio, making the stock its 2nd largest holding.
A number of other hedge funds have also made changes to their positions in ADI. Norges Bank purchased a new stake in Analog Devices during the 4th quarter worth $1,755,958,000. Raymond James Financial Inc. purchased a new stake in Analog Devices during the 4th quarter worth $833,386,000. Proficio Capital Partners LLC increased its position in shares of 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 purchasing an additional 3,059,349 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Analog Devices by 301.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Analog Devices by 71.0% in the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after purchasing an additional 896,694 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on ADI. Wells Fargo & Company reissued a "positive" rating on shares of Analog Devices in a research report on Friday, May 23rd. Stifel Nicolaus lifted their price target on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. Benchmark reaffirmed 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. Finally, Truist Financial lifted their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $248.63.
Read Our Latest Research Report on Analog Devices
Insider Buying and Selling at Analog Devices
In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 over the last three months. 0.33% of the stock is currently owned by insiders.
Analog Devices Stock Down 0.1%
ADI stock traded down $0.31 during midday trading on Thursday, reaching $215.32. 1,525,951 shares of the company's stock traded hands, compared to its average volume of 3,522,706. The company has a market cap of $106.79 billion, a price-to-earnings ratio of 68.50, a P/E/G ratio of 2.85 and a beta of 0.98. The firm's fifty day moving average price is $198.11 and its 200-day moving average price is $210.11. 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, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.
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 (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 EPS. The business's revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.
Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
About Analog Devices
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Free Report)
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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