Baer Investment Advisory LLC Makes New $3.74 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Baer Investment Advisory LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,406 shares of the semiconductor company’s stock, valued at approximately $3,743,000. Analog Devices makes up approximately 7.8% of Baer Investment Advisory LLC’s portfolio, making the stock its 2nd biggest holding.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in Analog Devices in the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices during the 4th quarter worth about $30,000. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $210.47 on Friday. The firm has a market capitalization of $104.39 billion, a P/E ratio of 67.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $197.66 and its two-hundred day moving average price is $210.37. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday. Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer raised their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Barclays increased their target price on shares of Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $247.82.

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.