Fire Capital Management LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Fire Capital Management LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,656 shares of the semiconductor company's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after acquiring an additional 413,084 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $1,755,958,000. FMR LLC raised its holdings in shares of Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after buying an additional 427,328 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $2.76 during mid-day trading on Friday, reaching $212.99. The company had a trading volume of 10,922,443 shares, compared to its average volume of 3,565,409. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The stock has a market cap of $105.70 billion, a PE ratio of 67.83, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $198.17 and a two-hundred day moving average price of $210.03.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The business's quarterly revenue was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.

Insiders Place Their Bets

In other news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. Maxim Group began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Piper Sandler dropped their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. Citigroup upped their price objective on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.