Empirical Asset Management LLC Purchases 2,060 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Empirical Asset Management LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,509 shares of the semiconductor company’s stock after buying an additional 2,060 shares during the period. Empirical Asset Management LLC’s holdings in Analog Devices were worth $3,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% in the third 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. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices in the third quarter valued at $43,000. Reston Wealth Management LLC bought a new stake in shares of Analog Devices during the 3rd quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Analog Devices during the 3rd quarter worth about $80,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

ADI stock opened at $215.02 on Friday. The firm has a market cap of $106.71 billion, a P/E ratio of 65.36, a P/E/G ratio of 2.43 and a beta of 1.05. The firm’s fifty day moving average is $216.03 and its 200 day moving average is $222.66. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $2.01 earnings per share. Research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley reduced their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Truist Financial upped their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.48.

Insider Transactions at Analog Devices

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 value 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company’s stock.

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.