Empowered Funds LLC Has $9.21 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Empowered Funds LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 74.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,327 shares of the semiconductor company’s stock after purchasing an additional 18,422 shares during the quarter. Empowered Funds LLC’s holdings in Analog Devices were worth $9,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Analog Devices during the 3rd quarter valued at about $28,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices in the 3rd quarter worth approximately $43,000. Finally, Reston Wealth Management LLC bought a new stake in Analog Devices during the 3rd quarter worth approximately $48,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 1.3 %

NASDAQ:ADI opened at $205.21 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The firm has a market capitalization of $101.81 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 2.38 and a beta of 1.04. The business’s 50-day moving average price is $215.21 and its two-hundred day moving average price is $220.28.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the company posted $2.01 EPS. On average, equities analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

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.