Rise Advisors LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Rise Advisors LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 256 shares of the semiconductor company’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter valued at about $1,225,227,000. Massachusetts Financial Services Co. MA boosted its holdings in Analog Devices by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock valued at $2,991,436,000 after acquiring an additional 1,197,215 shares during the period. International Assets Investment Management LLC grew its position in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after acquiring an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in Analog Devices in the first quarter valued at approximately $138,800,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. Barclays lifted their target price on shares of Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Citigroup boosted their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Evercore ISI started coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Truist Financial boosted their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, UBS Group increased their price objective on Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $243.23.

Insider Buying and Selling

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the sale, the chief accounting officer now directly owns 10,547 shares in the company, valued at approximately $2,495,209.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction that occurred on 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 owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 50,121 shares of company stock worth $10,875,654 in the last three months. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 2.5 %

NASDAQ ADI opened at $229.51 on Friday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $215.36 and its 200-day moving average price is $200.70. The stock has a market cap of $113.89 billion, a P/E ratio of 53.62, a P/E/G ratio of 3.97 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. Analog Devices’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.83 EPS. As a group, equities analysts forecast that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

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.