Tidal Investments LLC Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Tidal Investments LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 106.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,148 shares of the semiconductor company’s stock after buying an additional 25,834 shares during the quarter. Tidal Investments LLC’s holdings in Analog Devices were worth $10,654,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tolleson Wealth Management Inc. acquired a new stake in Analog Devices in the 4th quarter valued at approximately $297,000. Stonebrook Private Inc. raised its holdings in shares of Analog Devices by 34.1% in the 4th quarter. Stonebrook Private Inc. now owns 9,789 shares of the semiconductor company’s stock valued at $2,080,000 after buying an additional 2,487 shares during the period. Tema Etfs LLC purchased a new stake in shares of Analog Devices in the 4th quarter valued at $406,000. Toronto Dominion Bank raised its holdings in shares of Analog Devices by 9.6% in the 4th quarter. Toronto Dominion Bank now owns 299,891 shares of the semiconductor company’s stock valued at $63,714,000 after buying an additional 26,155 shares during the period. Finally, Scissortail Wealth Management LLC raised its holdings in shares of Analog Devices by 2,475.9% in the 4th quarter. Scissortail Wealth Management LLC now owns 9,814 shares of the semiconductor company’s stock valued at $2,085,000 after buying an additional 9,433 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.0%

ADI opened at $227.11 on Monday. The business has a 50 day moving average price of $196.58 and a two-hundred day moving average price of $210.33. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $112.64 billion, a PE ratio of 72.33, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADI shares. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Finally, Barclays lowered their target price on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $249.95.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value 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. This represents a 1.65% decrease in their ownership of the stock. 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 in the last ninety days. Insiders own 0.33% of the company’s stock.

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.