Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by InterOcean Capital Group LLC

InterOcean Capital Group LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,067 shares of the semiconductor company’s stock after acquiring an additional 85 shares during the period. InterOcean Capital Group LLC’s holdings in Analog Devices were worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares in the last quarter. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,225,227,000. First Eagle Investment Management LLC grew its holdings in shares of Analog Devices by 9.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,836,884 shares of the semiconductor company’s stock worth $761,852,000 after buying an additional 327,542 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in shares of Analog Devices by 11.7% during the fourth quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock worth $753,379,000 after buying an additional 397,753 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock traded down $4.98 during trading hours on Thursday, hitting $235.18. 1,418,085 shares of the company traded hands, compared to its average volume of 3,325,742. The firm has a market cap of $116.63 billion, a P/E ratio of 42.29, a P/E/G ratio of 5.44 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm’s 50-day simple moving average is $199.12 and its two-hundred day simple moving average is $192.74. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $241.88.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 5.85 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be paid a $0.92 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.56%. Analog Devices’s dividend payout ratio is currently 65.83%.

Analyst Ratings Changes

Several brokerages recently commented on ADI. Evercore ISI began coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target for the company. UBS Group upped their price target on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial upped their price target on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald upped their price target on shares of Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, KeyCorp upped their price target on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.67.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was 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 disclosure for this sale can be found here. Insiders have sold 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 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.