Gotham Asset Management LLC Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Gotham Asset Management LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,275 shares of the semiconductor company's stock after purchasing an additional 2,870 shares during the period. Gotham Asset Management LLC's holdings in Analog Devices were worth $6,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fiduciary Alliance LLC purchased a new position in shares of Analog Devices in the 4th quarter worth about $1,317,000. Brookstone Capital Management grew its stake in shares of Analog Devices by 21.9% in the fourth quarter. Brookstone Capital Management now owns 1,889 shares of the semiconductor company's stock valued at $401,000 after buying an additional 340 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Analog Devices by 7.6% in the fourth quarter. Capital Investment Advisors LLC now owns 1,020 shares of the semiconductor company's stock valued at $217,000 after buying an additional 72 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Analog Devices by 1.9% in the fourth quarter. Wedmont Private Capital now owns 4,406 shares of the semiconductor company's stock valued at $936,000 after buying an additional 83 shares in the last quarter. Finally, Elevated Capital Advisors LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $215,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,934 shares of company stock worth $8,735,156. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Truist Financial lifted 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. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Stifel Nicolaus cut their target price on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $249.95.

Analog Devices Price Performance

ADI traded down $0.01 during trading on Friday, hitting $227.11. 3,617,772 shares of the stock traded hands, compared to its average volume of 3,513,185. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a market cap of $112.64 billion, a price-to-earnings ratio of 72.33, a PEG 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. The business has a 50 day moving average price of $196.58 and a 200 day moving average price of $210.55.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is currently 126.11%.

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.