Oak Harvest Investment Services Has $7.56 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Oak Harvest Investment Services raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 13.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,604 shares of the semiconductor company’s stock after buying an additional 4,269 shares during the quarter. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,564,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Analog Devices in the fourth quarter worth $50,000. OLD National Bancorp IN raised its holdings in Analog Devices by 6.8% during the 4th quarter. OLD National Bancorp IN now owns 14,607 shares of the semiconductor company’s stock worth $3,103,000 after buying an additional 930 shares during the period. Synergy Asset Management LLC lifted its stake in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after buying an additional 2,554 shares in the last quarter. Baron Wealth Management LLC boosted its holdings in shares of Analog Devices by 8.3% in the fourth quarter. Baron Wealth Management LLC now owns 5,237 shares of the semiconductor company’s stock valued at $1,113,000 after buying an additional 403 shares during the period. Finally, Invesco LLC raised its holdings in shares of Analog Devices by 28.1% during the fourth quarter. Invesco LLC now owns 3,519 shares of the semiconductor company’s stock worth $748,000 after acquiring an additional 772 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 1.2 %

Shares of NASDAQ ADI opened at $212.40 on Friday. The stock has a market capitalization of $105.37 billion, a P/E ratio of 64.56, a PEG ratio of 2.57 and a beta of 1.05. The stock’s fifty day moving average is $216.50 and its 200 day moving average is $221.67. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 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 posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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.