Ifrah Financial Services Inc. Acquires Shares of 1,010 Analog Devices, Inc. (NASDAQ:ADI)

Ifrah Financial Services Inc. acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,010 shares of the semiconductor company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently modified their holdings of the stock. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices in the fourth quarter valued at $1,152,000. Sequoia Financial Advisors LLC increased its stake in shares of Analog Devices by 107.6% in 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 increased its stake in shares of Analog Devices by 37.5% in 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 holdings in 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 purchasing an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Analog Devices by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after purchasing an additional 89,504 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of several research analyst reports. Barclays upped their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Oppenheimer restated an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. The Goldman Sachs Group lifted their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Truist Financial reduced their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Evercore ISI began coverage on Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Activity

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.6 %

Shares of ADI stock traded up $3.14 on Friday, hitting $199.63. 2,372,862 shares of the stock traded hands, compared to its average volume of 3,339,473. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The stock has a market capitalization of $99.00 billion, a PE ratio of 35.71, a PEG ratio of 5.01 and a beta of 1.14. The firm’s 50-day moving average price is $194.27 and its two-hundred day moving average price is $188.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is currently 65.83%.

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.