EdgeRock Capital LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

EdgeRock Capital LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 241 shares of the semiconductor company’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. raised its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Analog Devices in the 3rd quarter worth approximately $29,000. Cetera Trust Company N.A purchased a new stake in shares of Analog Devices in the 4th quarter valued at $29,000. Northwest Capital Management Inc raised its position in Analog Devices by 519.2% in the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 135 shares during the period. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Analog Devices in the 4th quarter worth $32,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.29 during midday trading on Wednesday, hitting $204.86. 2,464,271 shares of the stock traded hands, compared to its average volume of 3,330,833. The firm has a market capitalization of $101.59 billion, a P/E ratio of 36.65, a PEG ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $205.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The firm has a 50-day moving average of $194.85 and a two-hundred day moving average of $188.89.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Activity

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock valued at $4,874,613. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial dropped their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

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.