NorthCrest Asset Manangement LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

NorthCrest Asset Manangement LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,201 shares of the semiconductor company's stock after purchasing an additional 1,353 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Analog Devices were worth $22,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC boosted its stake in Analog Devices by 8.6% in the 4th quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company's stock worth $443,000 after purchasing an additional 164 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after purchasing an additional 529 shares in the last quarter. RFG Advisory LLC increased its holdings in Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after acquiring an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Analog Devices by 9.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the semiconductor company's stock worth $749,000 after acquiring an additional 306 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Analog Devices by 30.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,984 shares of the semiconductor company's stock worth $1,909,000 after acquiring an additional 2,071 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADI. Benchmark reissued a "buy" rating and set a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a research report on Friday, May 23rd. Wells Fargo & Company reaffirmed a "positive" rating on shares of Analog Devices in a research report on Friday, May 23rd. Truist Financial increased their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Evercore ISI raised their target price on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, UBS Group reduced their target price on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Stock Performance

Shares of ADI stock traded up $0.13 during trading on Thursday, reaching $215.75. The company had a trading volume of 3,799,975 shares, compared to its average volume of 3,533,246. The firm's 50 day simple moving average is $198.18 and its two-hundred day simple moving average is $210.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market capitalization of $107.01 billion, a PE ratio of 68.71, a PEG ratio of 2.85 and a beta of 0.98.

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

Analog Devices Dividend Announcement

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 given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.84%. Analog Devices's payout ratio is 107.90%.

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

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently 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.