Capital Investment Advisory Services LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Capital Investment Advisory Services LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,021 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Massachusetts Financial Services Co. MA grew its position in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares during the period. Nordea Investment Management AB grew its position in Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the period. International Assets Investment Management LLC grew its position in Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the period. Alecta Tjanstepension Omsesidigt grew its position in Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after buying an additional 775,000 shares during the period. Finally, Invesco Ltd. grew its position in Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research report on Thursday, January 18th. Truist Financial reduced their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Barclays upped their price target on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Performance

Shares of ADI stock opened at $196.50 on Thursday. The firm has a market capitalization of $97.45 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 4.67 and a beta of 1.17. The company has a 50 day moving average price of $192.97 and a 200 day moving average price of $187.00. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 $1,134,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,707 shares of company stock worth $4,825,113. Company insiders own 0.31% of the company’s stock.

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.