Norden Group LLC Acquires 101 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Norden Group LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,456 shares of the semiconductor company’s stock after acquiring an additional 101 shares during the period. Norden Group LLC’s holdings in Analog Devices were worth $522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices during the 4th quarter valued at $33,000. Kestra Investment Management LLC bought a new stake in Analog Devices during the 4th quarter valued at $41,000. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter valued at $43,000. 86.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADI shares. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of ADI stock opened at $228.53 on Tuesday. The stock’s 50-day simple moving average is $217.82 and its 200-day simple moving average is $221.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a market capitalization of $113.35 billion, a PE ratio of 72.78, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio is currently 126.11%.

Analog Devices announced that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.