Two Sigma Advisers LP Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Two Sigma Advisers LP bought a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,926 shares of the semiconductor company's stock, valued at approximately $1,471,000.

Several other hedge funds also recently modified their holdings of ADI. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC increased its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices during the 4th quarter worth about $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Truist Financial boosted their price objective 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. Evercore ISI increased their target price on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Piper Sandler lowered their price target on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $248.63.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares of the company's stock, valued at $10,441,928.04. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the 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 directly owns 43,175 shares in the company, valued at $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 42,934 shares of company stock worth $8,735,156 in the last ninety days. 0.33% of the stock is owned by insiders.

Analog Devices Stock Up 0.0%

Shares of Analog Devices stock traded up $0.07 during trading hours on Wednesday, hitting $218.50. 4,199,243 shares of the company's stock traded hands, compared to its average volume of 3,556,540. 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 twelve month low of $158.65 and a twelve month high of $247.10. The stock has a 50 day simple moving average of $198.79 and a 200-day simple moving average of $210.18. The company has a market cap of $108.43 billion, a PE ratio of 69.59, a PEG ratio of 2.85 and a beta of 1.00.

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

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.81%. Analog Devices's dividend payout ratio is presently 107.90%.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

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.