Paradiem LLC Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Paradiem LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,113 shares of the semiconductor company’s stock after purchasing an additional 4,034 shares during the quarter. Analog Devices makes up 3.2% of Paradiem LLC’s investment portfolio, making the stock its 13th biggest holding. Paradiem LLC’s holdings in Analog Devices were worth $11,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Analog Devices by 9.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after buying an additional 2,216 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Analog Devices by 15.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the semiconductor company’s stock worth $387,000 after buying an additional 223 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Analog Devices by 68.2% during the second quarter. Public Sector Pension Investment Board now owns 19,012 shares of the semiconductor company’s stock worth $4,340,000 after purchasing an additional 7,710 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Analog Devices by 13.8% during the second quarter. Evergreen Capital Management LLC now owns 4,570 shares of the semiconductor company’s stock worth $1,043,000 after purchasing an additional 553 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Analog Devices by 59.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,993 shares of the semiconductor company’s stock worth $21,683,000 after purchasing an additional 35,543 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Transactions at Analog Devices

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

Analog Devices Stock Up 1.2 %

ADI opened at $224.08 on Thursday. 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 company’s 50-day moving average is $215.66 and its 200 day moving average is $222.33. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm has a market capitalization of $111.18 billion, a P/E ratio of 68.11, a PEG ratio of 2.51 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during 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%. The company’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the company earned $2.01 earnings per share. Research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. Analog Devices’s payout ratio 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.