Stonebridge Financial Group LLC Makes New $4.67 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Stonebridge Financial Group LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,983 shares of the semiconductor company’s stock, valued at approximately $4,670,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices in the 4th quarter worth about $33,000. Peterson Financial Group Inc. purchased a new position in Analog Devices in the 3rd quarter worth about $43,000. Finally, Reston Wealth Management LLC bought a new stake in Analog Devices during the 3rd quarter valued at about $48,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale 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 company insiders.

Analog Devices Stock Performance

Shares of ADI stock opened at $204.86 on Tuesday. 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 company has a market cap of $101.63 billion, a PE ratio of 62.27, a PEG ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The business’s fifty day simple moving average is $215.21 and its 200-day simple moving average is $220.25.

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

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. TD Cowen decreased their target price 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. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Truist Financial lifted their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

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.