Harrell Investment Partners LLC Increases Stake in Analog Devices, Inc. $ADI

Harrell Investment Partners LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 50.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,251 shares of the semiconductor company’s stock after buying an additional 10,522 shares during the period. Analog Devices accounts for approximately 1.8% of Harrell Investment Partners LLC’s portfolio, making the stock its 13th largest position. Harrell Investment Partners LLC’s holdings in Analog Devices were worth $7,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in shares of Analog Devices in the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new position in Analog Devices during the second quarter valued at $26,000. Clayton Financial Group LLC purchased a new position in Analog Devices during the third quarter valued at $31,000. Sound Income Strategies LLC boosted its holdings in shares of Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 95 shares in the last quarter. Finally, Nova Wealth Management Inc. purchased a new stake in shares of Analog Devices in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $299.16 on Friday. The firm’s 50-day moving average price is $261.31 and its 200-day moving average price is $247.37. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $299.53. The company has a market cap of $146.48 billion, a PE ratio of 65.61, a PEG ratio of 1.62 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio is 86.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. Zacks Research raised Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Cfra restated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Analog Devices in a research note on Monday, December 29th. UBS Group increased their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Robert W. Baird lifted their target price on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $287.22.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total value of $873,093.75. Following the transaction, the director owned 136,321 shares in the company, valued at $38,086,724.19. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 39,919 shares of company stock valued at $10,464,462 in the last 90 days. 0.33% of the stock is owned by company insiders.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.