Mengis Capital Management Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Mengis Capital Management Inc. bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,040 shares of the semiconductor company’s stock, valued at approximately $207,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position 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 acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new position in Analog Devices during 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 approximately $29,000. Northwest Capital Management Inc increased its holdings in Analog Devices by 519.2% in the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 135 shares during the last quarter. Finally, CGC Financial Services LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth about $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction 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 sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of ADI stock traded up $4.56 during midday trading on Monday, reaching $187.92. 1,051,178 shares of the company traded hands, compared to its average volume of 3,314,370. The firm’s 50 day simple moving average is $192.82 and its two-hundred day simple moving average is $186.72. The firm has a market cap of $93.19 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 4.60 and a beta of 1.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. 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 (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. 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. This represents a $3.68 annualized dividend and a yield of 1.96%. Analog Devices’s 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.