Fort Washington Investment Advisors Inc. OH Buys 22,038 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fort Washington Investment Advisors Inc. OH raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 263,367 shares of the semiconductor company’s stock after buying an additional 22,038 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.05% of Analog Devices worth $55,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices during the 3rd quarter valued at $43,000. Reston Wealth Management LLC purchased a new stake in shares of Analog Devices in the 3rd quarter worth $48,000. Finally, Northwest Investment Counselors LLC bought a new position in Analog Devices in the 3rd quarter worth $80,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 over the last ninety days. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADI shares. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Morgan Stanley reduced their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven research 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, Analog Devices has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Up 1.0 %

Shares of ADI opened at $221.45 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock has a market capitalization of $109.87 billion, a price-to-earnings ratio of 67.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The business’s 50 day simple moving average is $215.62 and its 200-day simple moving average is $222.39.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.66%. Analog Devices’s dividend payout ratio is currently 111.85%.

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.