Fenimore Asset Management Inc Purchases 3,555 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fenimore Asset Management Inc raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 479,034 shares of the semiconductor company’s stock after purchasing an additional 3,555 shares during the period. Analog Devices accounts for 2.0% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 18th biggest position. Fenimore Asset Management Inc’s holdings in Analog Devices were worth $96,607,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of Analog Devices by 99.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,989 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 992 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Analog Devices during the 4th quarter valued at $2,799,000. Golden State Wealth Management LLC bought a new position in shares of Analog Devices during the 4th quarter valued at $61,000. Finally, Vest Financial LLC increased its stake in shares of Analog Devices by 47.7% in the 4th quarter. Vest Financial LLC now owns 6,977 shares of the semiconductor company’s stock worth $1,482,000 after purchasing an additional 2,252 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADI shares. Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price objective on shares of Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Piper Sandler reduced their price objective on shares of Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, KGI Securities began coverage on shares of Analog Devices in a report on Friday, May 23rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.63.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The shares were 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 in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. 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 corporate insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $222.26 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a market capitalization of $110.30 billion, a P/E ratio of 70.78, a PEG ratio of 2.85 and a beta of 1.00. The company has a 50 day moving average price of $199.58 and a 200 day moving average price of $210.29. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $1.40 EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.78%. Analog Devices’s payout ratio is 107.90%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.