Schmidt P J Investment Management Inc. Buys 757 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Schmidt P J Investment Management Inc. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,690 shares of the semiconductor company’s stock after buying an additional 757 shares during the quarter. Analog Devices accounts for 1.3% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 23rd biggest holding. Schmidt P J Investment Management Inc.’s holdings in Analog Devices were worth $7,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank increased its stake in Analog Devices by 7.0% in the third quarter. Czech National Bank now owns 101,084 shares of the semiconductor company’s stock valued at $23,267,000 after acquiring an additional 6,584 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Analog Devices by 6.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,595 shares of the semiconductor company’s stock worth $827,000 after buying an additional 204 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Analog Devices by 53.2% during the 3rd quarter. Fulton Bank N.A. now owns 1,936 shares of the semiconductor company’s stock worth $446,000 after buying an additional 672 shares during the period. Atomi Financial Group Inc. boosted its stake in Analog Devices by 14.1% in the 3rd quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 270 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its position in Analog Devices by 11.3% in the third quarter. Sovereign Financial Group Inc. now owns 1,444 shares of the semiconductor company’s stock valued at $332,000 after acquiring an additional 147 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of ADI opened at $209.80 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market cap of $104.08 billion, a P/E ratio of 63.77, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The stock’s 50-day moving average price is $215.80 and its two-hundred day moving average price is $220.76. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. On average, equities analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Check Out Our Latest Research Report on Analog Devices

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

About Analog Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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