Pinebridge Investments L.P. Purchases 11,602 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pinebridge Investments L.P. raised its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 37.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,464 shares of the semiconductor company’s stock after buying an additional 11,602 shares during the period. Pinebridge Investments L.P.’s holdings in Analog Devices were worth $8,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas increased its stake in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A bought a new stake in shares of Analog Devices during the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new stake in shares of Analog Devices during the fourth quarter worth about $29,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Analog Devices during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction 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 of the company’s stock, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred 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 completion of 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. In the last ninety days, insiders sold 33,737 shares of company stock worth $6,998,205. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI traded up $1.73 during trading on Thursday, reaching $237.41. 2,755,842 shares of the company’s stock were exchanged, compared to its average volume of 3,386,611. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $241.88. The business has a 50 day moving average price of $207.85 and a 200-day moving average price of $197.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $117.81 billion, a P/E ratio of 55.47, a PEG ratio of 3.91 and a beta of 1.12.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.83 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 6.22 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be paid a $0.92 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.55%. Analog Devices’s dividend payout ratio is 85.98%.

Analyst Ratings Changes

A number of research analysts have weighed in on ADI shares. Truist Financial boosted their target price on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Bank of America upped their price objective on shares of Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Stifel Nicolaus increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Sanford C. Bernstein raised their target price on shares of Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Check Out Our Latest Stock Report on Analog Devices

About Analog Devices

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADIFree Report).

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.