Great Valley Advisor Group Inc. Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Great Valley Advisor Group Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,996 shares of the semiconductor company’s stock after buying an additional 946 shares during the period. Great Valley Advisor Group Inc.’s holdings in Analog Devices were worth $1,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares during the last quarter. Nordea Investment Management AB raised its holdings in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after buying an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC boosted its position in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after buying an additional 930,732 shares during the period. Alecta Tjanstepension Omsesidigt grew its holdings in Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after acquiring an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. raised its position in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after purchasing an additional 701,367 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADI. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. KeyCorp upped their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays raised their target price on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Truist Financial reduced their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Insider Transactions at Analog Devices

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

Analog Devices Price Performance

NASDAQ ADI opened at $196.49 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The stock has a market capitalization of $97.44 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 4.86 and a beta of 1.14. The business’s fifty day moving average price is $194.08 and its 200-day moving average price is $187.97.

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

Analog Devices Increases Dividend

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

Analog Devices Company 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.