Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Clean Yield Group

Clean Yield Group increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 86.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196 shares of the semiconductor company’s stock after purchasing an additional 91 shares during the quarter. Clean Yield Group’s holdings in Analog Devices were worth $40,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Broderick Brian C lifted its position in shares of Analog Devices by 2.6% in the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after buying an additional 2,017 shares during the last quarter. Freestone Grove Partners LP bought a new position in Analog Devices in the fourth quarter worth about $10,212,000. Vest Financial LLC boosted its stake in Analog Devices by 47.7% in the fourth quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company’s stock valued at $1,482,000 after acquiring an additional 2,252 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Analog Devices by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company’s stock valued at $38,928,000 after purchasing an additional 3,529 shares during the last quarter. Finally, Hickory Asset Management Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $366,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several recent research reports. Oppenheimer upped their price target 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. Citigroup raised their price target on shares of Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Benchmark reaffirmed a “buy” rating and set a $260.00 price target (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Truist Financial increased their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus raised their target price on Analog Devices from $225.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $248.63.

Insider Activity

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 over the last three months. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $222.26 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $199.58 and its two-hundred day moving average price is $210.29. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The stock has a market cap of $110.30 billion, a PE ratio of 70.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Analog Devices announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analog Devices Company 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.