GAMMA Investing LLC Purchases 416 Shares of Analog Devices, Inc. (NASDAQ:ADI)

GAMMA Investing LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,653 shares of the semiconductor company’s stock after purchasing an additional 416 shares during the period. GAMMA Investing LLC’s holdings in Analog Devices were worth $1,838,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cozad Asset Management Inc. increased its position in Analog Devices by 5.7% during the 2nd quarter. Cozad Asset Management Inc. now owns 1,427 shares of the semiconductor company’s stock valued at $326,000 after buying an additional 77 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Analog Devices by 22.4% in the 2nd quarter. Foundations Investment Advisors LLC now owns 1,844 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 337 shares during the last quarter. TD Asset Management Inc raised its position in shares of Analog Devices by 4.3% in the 2nd quarter. TD Asset Management Inc now owns 455,100 shares of the semiconductor company’s stock worth $103,881,000 after purchasing an additional 18,964 shares during the last quarter. SouthState Corp boosted its stake in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 50 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Analog Devices by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 607,348 shares of the semiconductor company’s stock valued at $138,633,000 after purchasing an additional 13,898 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ADI shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Stock Performance

NASDAQ:ADI opened at $215.37 on Friday. The stock has a 50-day simple moving average of $217.91 and a two-hundred day simple moving average of $223.59. 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, Inc. has a 52-week low of $181.80 and a 52-week high of $244.14. The firm has a market capitalization of $106.89 billion, a PE ratio of 65.46, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company posted $2.01 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’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 value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by corporate insiders.

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.