MBB Public Markets I LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

MBB Public Markets I LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,129 shares of the semiconductor company’s stock, valued at approximately $8,247,000.

Several other hedge funds have also made changes to their positions in the company. Point72 Italy S.r.l. acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $6,367,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at $850,000. Capital International Investors grew its holdings in shares of Analog Devices by 5.8% during the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after acquiring an additional 246,799 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Analog Devices by 16.2% during the fourth quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $226.70, for a total transaction of $2,267,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,495 shares of company stock worth $13,904,458. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 2.6 %

ADI stock opened at $232.46 on Friday. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year 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 business’s 50 day moving average is $223.06 and its 200-day moving average is $216.92. The firm has a market cap of $115.41 billion, a P/E ratio of 54.31, a P/E/G ratio of 3.75 and a beta of 1.07.

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

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 85.98%.

Analysts Set New Price Targets

A number of research analysts have commented on ADI shares. Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley boosted their price target on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Bank of America decreased their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $233.00 in a report on Monday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

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.