Duality Advisers LP Purchases New Position in Analog Devices, Inc. (NASDAQ:ADI)

Duality Advisers LP bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 4,771 shares of the semiconductor company’s stock, valued at approximately $947,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADI. Amarillo National Bank raised its position in shares of Analog Devices by 3.7% in the 4th quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 54 shares during the period. Keystone Financial Services raised its stake in shares of Analog Devices by 1.8% in the 4th quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares during the period. Ancora Advisors LLC raised its position in Analog Devices by 2.1% in the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its position in Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 59 shares during the last quarter. Finally, MRA Advisory Group raised its holdings in shares of Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ:ADI opened at $189.93 on Wednesday. The firm’s fifty day simple moving average is $192.77 and its 200 day simple moving average is $186.93. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $94.19 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 4.60 and a beta of 1.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $2.75 earnings per share. The company’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated 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 sale, 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. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADI. Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Oppenheimer restated an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

About Analog Devices

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.