NEOS Investment Management LLC Purchases 74,292 Shares of Analog Devices, Inc. $ADI

NEOS Investment Management LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 54.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,485 shares of the semiconductor company’s stock after acquiring an additional 74,292 shares during the quarter. NEOS Investment Management LLC’s holdings in Analog Devices were worth $51,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howard Hughes Medical Institute acquired a new position in Analog Devices in the second quarter worth $25,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices in the third quarter valued at about $31,000. LFA Lugano Financial Advisors SA lifted its position in Analog Devices by 92.9% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 135 shares of the semiconductor company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in Analog Devices during the 3rd quarter worth about $38,000. Finally, Sound Income Strategies LLC grew its holdings in Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 95 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $317.30, for a total transaction of $991,562.50. Following the transaction, the director directly owned 123,821 shares of the company’s stock, valued at $39,288,403.30. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This trade represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,544 shares of company stock worth $15,320,417 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on ADI shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Cfra restated a “buy” rating and issued a $280.00 price objective on shares of Analog Devices in a research report on Tuesday, November 25th. Truist Financial upped their price objective on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a report on Friday, December 19th. UBS Group reissued a “buy” rating and issued a $400.00 target price on shares of Analog Devices in a research note on Monday, February 9th. Finally, BNP Paribas Exane assumed coverage on Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.87.

Analog Devices Stock Performance

ADI stock opened at $337.10 on Tuesday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $343.96. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company has a market cap of $164.72 billion, a P/E ratio of 73.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03. The business’s fifty day moving average is $297.14 and its 200-day moving average is $261.77.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.