GAMMA Investing LLC Invests $618,000 in Analog Devices, Inc. (NASDAQ:ADI)

GAMMA Investing LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,215 shares of the semiconductor company’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices during the 4th quarter valued at $1,152,000. Sequoia Financial Advisors LLC raised its position in Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Analog Devices by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Analog Devices by 31.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after acquiring an additional 89,504 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research note on Monday, March 4th. Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Truist Financial dropped their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $6.73 during midday trading on Wednesday, hitting $196.66. The stock had a trading volume of 3,658,990 shares, compared to its average volume of 3,360,896. The company’s 50-day moving average price is $192.77 and its 200-day moving average price is $186.93. The company has a market capitalization of $97.53 billion, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 4.67 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $2.75 EPS. The company’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.87%. Analog Devices’s dividend payout ratio is presently 65.83%.

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.