Custom Index Systems LLC Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Custom Index Systems LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 121.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,044 shares of the semiconductor company’s stock after acquiring an additional 1,122 shares during the quarter. Custom Index Systems LLC’s holdings in Analog Devices were worth $434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares during the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the period. Bank of Hawaii raised its position in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the last quarter. MONECO Advisors LLC boosted its stake in Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares during the period. Finally, DT Investment Partners LLC raised its holdings in shares of Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after buying an additional 51 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on ADI shares. Truist Financial boosted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. TD Cowen lowered their target price 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. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Barclays dropped their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Price Performance

NASDAQ:ADI opened at $211.89 on Friday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The stock has a market cap of $105.12 billion, a P/E ratio of 64.40, a PEG ratio of 2.41 and a beta of 1.05. The company has a fifty day moving average price of $216.48 and a 200 day moving average price of $221.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 earnings per share. Analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Analog Devices Company 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.