Two Sigma Investments LP Makes New $906,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Two Sigma Investments LP purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,262 shares of the semiconductor company's stock, valued at approximately $906,000.

Other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. bought a new stake in Analog Devices in the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC boosted its position in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the period. Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $41,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth approximately $46,000. Institutional investors own 86.81% of the company's stock.

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 dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADI shares. Piper Sandler dropped their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Benchmark restated 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. Evercore ISI raised their price target on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $248.63.

Analog Devices Stock Up 1.9%

ADI traded up $4.22 during trading on Friday, hitting $222.26. The stock had a trading volume of 3,246,027 shares, compared to its average volume of 3,556,417. The stock has a 50 day simple moving average of $199.58 and a two-hundred day simple moving average of $210.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a market capitalization of $110.30 billion, a PE ratio of 70.78, a PEG ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its 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. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding 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 generally an indication that the company's board believes its shares are undervalued.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 1.78%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio is presently 107.90%.

Analog Devices 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.