Mesirow Financial Investment Management Inc. Buys 269 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mesirow Financial Investment Management Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,981 shares of the semiconductor company’s stock after purchasing an additional 269 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Analog Devices were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atomi Financial Group Inc. bought a new position in Analog Devices during the first quarter valued at $215,000. Bleakley Financial Group LLC boosted its stake in shares of Analog Devices by 23.1% during the 1st quarter. Bleakley Financial Group LLC now owns 18,455 shares of the semiconductor company’s stock worth $3,650,000 after purchasing an additional 3,459 shares during the period. Entropy Technologies LP bought a new position in Analog Devices during the 1st quarter valued at about $5,205,000. Koshinski Asset Management Inc. raised its position in Analog Devices by 20.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,266 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 729 shares during the period. Finally, Dearborn Partners LLC lifted its stake in Analog Devices by 3.5% in the first quarter. Dearborn Partners LLC now owns 58,119 shares of the semiconductor company’s stock worth $11,495,000 after purchasing an additional 1,990 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.4 %

ADI stock opened at $220.47 on Tuesday. The company’s 50 day moving average is $226.61 and its two-hundred day moving average is $224.83. Analog Devices, Inc. has a twelve month low of $170.10 and a twelve month high of $244.14. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The stock has a market cap of $109.46 billion, a P/E ratio of 66.21, a PEG ratio of 3.17 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 earnings per share. Research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.67%. Analog Devices’s payout ratio is 110.51%.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now directly owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ADI. Barclays upped their target price on Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.