Edgestream Partners L.P. Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

Edgestream Partners L.P. acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,523 shares of the semiconductor company’s stock, valued at approximately $1,386,000.

A number of other large investors also recently modified their holdings of the company. Callan Family Office LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at about $1,597,000. E Fund Management Co. Ltd. raised its holdings in shares of Analog Devices by 37.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 16,180 shares of the semiconductor company’s stock valued at $3,438,000 after buying an additional 4,386 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Analog Devices by 19.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 3,750 shares of the semiconductor company’s stock valued at $797,000 after buying an additional 613 shares in the last quarter. Freestone Capital Holdings LLC grew its position in Analog Devices by 18.9% during the 4th quarter. Freestone Capital Holdings LLC now owns 15,055 shares of the semiconductor company’s stock worth $3,199,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in Analog Devices by 1.3% during the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after acquiring an additional 65 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

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

Analog Devices Trading Down 4.3 %

NASDAQ ADI opened at $216.26 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The firm has a market capitalization of $107.26 billion, a PE ratio of 68.87, a P/E/G ratio of 2.85 and a beta of 1.07. The stock’s 50 day moving average is $218.56 and its 200 day moving average is $221.13.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.83%. Analog Devices’s payout ratio is presently 126.11%.

Wall Street Analyst Weigh In

ADI has been the topic of several recent research reports. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial raised their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $255.41.

About Analog Devices

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.