GAMMA Investing LLC Purchases New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

GAMMA Investing LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,215 shares of the semiconductor company’s stock, valued at approximately $618,000.

Several other institutional investors also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. increased its holdings in shares of Analog Devices by 101.6% in 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 in the last quarter. Silver Oak Securities Incorporated acquired a new position in Analog Devices in the third quarter valued at $29,000. Cetera Trust Company N.A bought a new stake in Analog Devices in the fourth quarter valued at $29,000. Northwest Capital Management Inc grew its position in Analog Devices by 519.2% in the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 135 shares in the last quarter. Finally, CGC Financial Services LLC purchased a new position in Analog Devices in the fourth quarter valued at about $37,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $6.73 during mid-day trading on Wednesday, reaching $196.66. The company had a trading volume of 3,658,990 shares, compared to its average volume of 3,360,896. The business’s 50-day simple moving average is $192.77 and its 200 day simple moving average is $186.93. 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, Inc. has a one year low of $154.99 and a one year high of $204.20. The firm has a market cap of $97.53 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 4.67 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADI. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. KeyCorp lifted their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Evercore ISI began coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Truist Financial lowered 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity at Analog Devices

In other news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction 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 completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vivek Jain sold 3,479 shares of the firm’s 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 of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is owned by corporate insiders.

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.