Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.6% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. United Bank grew its position in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Analog Devices in the third quarter valued at approximately $210,000. Great Valley Advisor Group Inc. grew its holdings in shares of Analog Devices by 39.4% in the third quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 570 shares in the last quarter. Larson Financial Group LLC increased its stake in Analog Devices by 103.6% during the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock worth $103,000 after buying an additional 228 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Analog Devices by 20.2% during the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock worth $652,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several research reports. TD Cowen dropped 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. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of ADI opened at $210.53 on Thursday. The company’s 50 day simple moving average is $216.98 and its 200-day simple moving average is $219.72. The firm has a market cap of $104.42 billion, a PE ratio of 67.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change 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 yield of 1.88%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.