Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.9% in the third quarter, HoldingsChannel.com reports. The fund owned 24,314 shares of the semiconductor company’s stock after buying an additional 2,188 shares during the quarter. Tidal Investments LLC’s holdings in Analog Devices were worth $5,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter worth about $28,000. New Millennium Group LLC bought a new position in Analog Devices in the 2nd quarter worth about $29,000. Archer Investment Corp increased its stake 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 valued at $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC raised its holdings in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter worth approximately $37,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now owns 79,093 shares of the company’s stock, valued at approximately $18,106,760.49. This trade represents a 27.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the completion of the transaction, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $24,754,600 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial cut their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Oppenheimer restated an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Stock Performance

Analog Devices stock opened at $216.61 on Friday. Analog Devices, Inc. has a fifty-two week low of $181.80 and a fifty-two week high of $244.14. The firm’s 50 day simple moving average is $222.16 and its 200-day simple moving average is $225.53. 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 has a market cap of $107.50 billion, a P/E ratio of 65.84, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 EPS. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. Analog Devices’s payout ratio is presently 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.