NEOS Investment Management LLC Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

NEOS Investment Management LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 25.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 66,332 shares of the semiconductor company’s stock after purchasing an additional 13,528 shares during the period. NEOS Investment Management LLC’s holdings in Analog Devices were worth $14,093,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC grew its stake in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. Financial Life Planners acquired a new position in shares of Analog Devices during the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth $41,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADI. UBS Group upped their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 1.4 %

ADI stock opened at $210.53 on Thursday. The firm has a fifty day moving average price of $216.98 and a two-hundred day moving average price of $219.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07.

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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock worth $7,746,500 in the last 90 days. 0.33% of the stock is currently owned by company 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.