Syon Capital LLC Purchases 2,876 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Syon Capital LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 101.2% in the 4th quarter, HoldingsChannel reports. The firm owned 5,718 shares of the semiconductor company’s stock after acquiring an additional 2,876 shares during the quarter. Syon Capital LLC’s holdings in Analog Devices were worth $1,135,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. CTC Alternative Strategies Ltd. bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $1,152,000. Sequoia Financial Advisors LLC increased its holdings 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 worth $2,515,000 after acquiring an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC increased its holdings 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 worth $1,612,000 after acquiring an additional 2,215 shares during the period. Daiwa Securities Group Inc. increased its holdings 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 buying an additional 4,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 buying an additional 89,504 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a report on Thursday, January 18th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a report on Thursday, January 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Trading Up 0.7 %

Shares of ADI stock traded up $1.44 during trading hours on Thursday, hitting $197.94. The company had a trading volume of 3,170,827 shares, compared to its average volume of 3,395,683. The stock has a market capitalization of $98.16 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 4.76 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company’s fifty day moving average is $192.97 and its 200 day moving average is $187.00.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.86%. Analog Devices’s payout ratio is presently 65.83%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,825,113 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

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.