Strategic Financial Concepts LLC Takes $2.80 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Strategic Financial Concepts LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, HoldingsChannel reports. The fund bought 13,173 shares of the semiconductor company’s stock, valued at approximately $2,799,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GHP Investment Advisors Inc. boosted its position in shares of Analog Devices by 3.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 47,083 shares of the semiconductor company’s stock worth $10,003,000 after purchasing an additional 1,410 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Analog Devices by 99.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,989 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 992 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its holdings in Analog Devices by 2.2% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 34,690 shares of the semiconductor company’s stock worth $7,370,000 after buying an additional 757 shares during the period. Tyche Wealth Partners LLC bought a new stake in Analog Devices during the fourth quarter valued at about $432,000. Finally, Absher Wealth Management LLC raised its holdings in Analog Devices by 10.6% during the fourth quarter. Absher Wealth Management LLC now owns 143,506 shares of the semiconductor company’s stock valued at $30,489,000 after acquiring an additional 13,728 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $205.21 on Monday. The company has a market cap of $101.81 billion, a P/E ratio of 62.37, a P/E/G ratio of 2.38 and a beta of 1.04. The business’s 50 day moving average price is $215.21 and its 200-day moving average price is $220.28. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Seven investment 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.com, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analog Devices 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.