Duality Advisers LP Takes $947,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Duality Advisers LP purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,771 shares of the semiconductor company’s stock, valued at approximately $947,000.

Several other large investors have also bought and sold shares of ADI. Massachusetts Financial Services Co. MA raised its stake in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Invesco Ltd. increased its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the period. Baillie Gifford & Co. lifted its holdings in Analog Devices by 11.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after buying an additional 397,753 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Analog Devices by 7.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock worth $546,148,000 after acquiring an additional 225,048 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Analog Devices by 2.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,532,127 shares of the semiconductor company’s stock valued at $443,350,000 after purchasing an additional 69,181 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on ADI shares. Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research note on Thursday, January 4th. Truist Financial reduced their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research report on Thursday, January 18th. Finally, Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $189.93 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The firm has a market cap of $94.19 billion, a P/E ratio of 33.98, a P/E/G ratio of 4.60 and a beta of 1.17. The firm’s fifty day moving average is $192.77 and its 200 day moving average is $186.93. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $2.75 earnings per share. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is currently 65.83%.

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.