Stonebrook Private Inc. Purchases 2,487 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Stonebrook Private Inc. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 34.1% in the fourth quarter, Holdings Channel reports. The fund owned 9,789 shares of the semiconductor company’s stock after buying an additional 2,487 shares during the quarter. Stonebrook Private Inc.’s holdings in Analog Devices were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in ADI. Norges Bank acquired a new position in Analog Devices in the fourth quarter worth about $1,755,958,000. Raymond James Financial Inc. acquired a new position in Analog Devices in the fourth quarter worth about $833,386,000. Proficio Capital Partners LLC raised its position in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock worth $335,933,000 after purchasing an additional 1,186,981 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company’s stock worth $458,683,000 after purchasing an additional 896,694 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Barclays dropped their price objective on shares of Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Finally, Citigroup dropped their price objective on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.95.

Insider Activity

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $8,735,156 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

ADI opened at $227.11 on Friday. The company has a fifty day moving average price of $196.58 and a two-hundred day moving average price of $210.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market capitalization of $112.64 billion, a PE ratio of 72.33, a P/E/G ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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 firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its board has authorized a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.