Pine Valley Investments Ltd Liability Co Buys 923 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pine Valley Investments Ltd Liability Co increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,603 shares of the semiconductor company’s stock after acquiring an additional 923 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Analog Devices were worth $1,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADI. State Street Corp raised its position in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC raised its position in Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. raised its position in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC raised its position in Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after purchasing an additional 226,716 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ADI. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Piper Sandler decreased their target price 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. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley increased their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

Shares of ADI opened at $235.30 on Wednesday. The business’s fifty day simple moving average is $216.35 and its two-hundred day simple moving average is $220.81. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a market cap of $116.70 billion, a price-to-earnings ratio of 74.94, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.68%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

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.