Scissortail Wealth Management LLC Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

Scissortail Wealth Management LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,798 shares of the semiconductor company's stock, valued at approximately $2,327,000.

Several other institutional investors also recently bought and sold shares of ADI. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Fortis Capital Advisors LLC purchased a new stake in shares of Analog Devices during the 1st quarter valued at about $31,000. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $29,000. Quarry LP boosted its holdings in shares of Analog Devices by 267.4% during the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Finally, CGC Financial Services LLC purchased a new position in shares of Analog Devices in the fourth quarter worth approximately $37,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADI. Barclays raised their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. Morgan Stanley reissued an "overweight" rating and issued a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday. They issued an "outperform" rating and a $254.00 price objective on the stock. KeyCorp raised their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, Truist Financial dropped their price objective on shares of Analog Devices from $226.00 to $222.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $208.17.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company's stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company's stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at $10,075,098.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $0.94 on Tuesday, hitting $191.23. 2,268,041 shares of the company traded hands, compared to its average volume of 3,351,054. The business has a 50-day simple moving average of $193.20 and a 200 day simple moving average of $186.33. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market capitalization of $94.83 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 4.82 and a beta of 1.17.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $2.75 earnings per share. Analog Devices's revenue for the quarter was down 22.7% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.92%. Analog Devices's dividend payout ratio (DPR) is 65.83%.

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.

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