Moment Partners LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Moment Partners LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,223 shares of the semiconductor company’s stock, valued at approximately $472,000.

Other hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices in the fourth quarter valued at about $460,000. Czech National Bank increased its holdings in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after purchasing an additional 6,566 shares during the period. Synergy Asset Management LLC lifted its holdings in Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after buying an additional 2,554 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Analog Devices in the 3rd quarter worth approximately $20,194,000. Finally, RFG Advisory LLC grew its position in shares of Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after buying an additional 77 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ADI shares. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $210.53 on Thursday. The firm has a market capitalization of $104.42 billion, a PE ratio of 67.05, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50 day moving average price of $216.98 and a 200-day moving average price of $219.72. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results 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 during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. As a group, equities research 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is an increase 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 1.88%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock valued at $7,746,500 in the last quarter. 0.33% of the stock is currently owned by insiders.

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.