Tidal Investments LLC Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Tidal Investments LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 106.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,148 shares of the semiconductor company's stock after purchasing an additional 25,834 shares during the period. Tidal Investments LLC's holdings in Analog Devices were worth $10,654,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Analog Devices in the 4th quarter worth $1,755,958,000. Raymond James Financial Inc. acquired a new position in Analog Devices in the 4th quarter valued at about $833,386,000. Proficio Capital Partners LLC boosted its stake 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 valued at $652,943,000 after buying an additional 3,059,349 shares during the period. Kovitz Investment Group Partners LLC raised its holdings 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 valued at $335,933,000 after purchasing an additional 1,186,981 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Analog Devices by 71.0% during the 4th quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after acquiring an additional 896,694 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the transaction, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated 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 owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

NASDAQ ADI traded down $10.29 on Thursday, hitting $211.93. 8,966,588 shares of the stock were exchanged, compared to its average volume of 3,548,480. The business's fifty day moving average is $197.63 and its 200 day moving average is $210.50. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a market capitalization of $105.11 billion, a PE ratio of 67.49, a P/E/G ratio of 2.85 and a beta of 0.98. 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 (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. During the same quarter in the prior year, the business posted $1.40 earnings per share. The firm's revenue was up 22.3% on a year-over-year basis. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.87%. Analog Devices's dividend payout ratio is 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent analyst reports. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Cantor Fitzgerald increased their price target on shares of Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Monday. Oppenheimer upped their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $252.35.

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.