Kodai Capital Management LP Makes New $22.47 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Kodai Capital Management LP purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 113,139 shares of the semiconductor company’s stock, valued at approximately $22,465,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at about $1,225,227,000. Massachusetts Financial Services Co. MA increased its position in Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Nordea Investment Management AB increased its position in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the period. International Assets Investment Management LLC increased its position in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the period. Finally, Alecta Tjanstepension Omsesidigt increased its position in Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $1.58 during trading on Tuesday, reaching $230.63. The company had a trading volume of 2,615,636 shares, compared to its average volume of 3,386,614. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The stock has a market cap of $114.44 billion, a PE ratio of 53.76, a PEG ratio of 3.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. The business’s 50 day moving average price is $205.37 and its 200-day moving average price is $196.25.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.83 earnings per share. Analysts expect that Analog Devices, Inc. will post 6.22 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.60%. Analog Devices’s dividend payout ratio is 85.98%.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 33,737 shares of company stock valued at $6,998,205 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays boosted their price target on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Citigroup boosted their price target on Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group started coverage on Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price target on the stock. UBS Group upped their target price on Analog Devices from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.23.

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.