Orion Capital Management LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Orion Capital Management LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 126 shares of the semiconductor company’s stock, valued at approximately $27,000.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners bought a new position in Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ADI shares. Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Truist Financial lifted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Seaport Res Ptn raised Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.35.

Analog Devices Stock Down 4.6%

Shares of NASDAQ ADI opened at $211.93 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $105.11 billion, a price-to-earnings ratio of 67.49, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock has a 50-day moving average price of $197.63 and a two-hundred day moving average price of $210.41.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.87%. Analog Devices’s dividend payout ratio is currently 126.11%.

Analog Devices announced that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $8,735,156 over the last quarter. 0.33% of the stock is owned by company insiders.

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.