Analog Devices, Inc. $ADI Shares Bought by Professional Advisory Services Inc.

Professional Advisory Services Inc. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,852 shares of the semiconductor company’s stock after purchasing an additional 10,811 shares during the quarter. Analog Devices accounts for approximately 2.3% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 25th largest holding. Professional Advisory Services Inc.’s holdings in Analog Devices were worth $17,900,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADI. Brighton Jones LLC boosted its stake in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after buying an additional 529 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Analog Devices by 36.0% in the second quarter. Sivia Capital Partners LLC now owns 1,752 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 464 shares during the period. CX Institutional boosted its position in Analog Devices by 1.6% in the 2nd quarter. CX Institutional now owns 5,133 shares of the semiconductor company’s stock worth $1,222,000 after purchasing an additional 80 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Analog Devices during the 2nd quarter worth approximately $230,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Analog Devices by 158.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,169 shares of the semiconductor company’s stock valued at $1,944,000 after purchasing an additional 5,009 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, CAO Michael Sondel sold 8,169 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer directly owned 18,913 shares in the company, valued at $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katsufumi Nakamura sold 500 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $301.46, for a total transaction of $150,730.00. Following the completion of the transaction, the senior vice president directly owned 12,710 shares in the company, valued at approximately $3,831,556.60. This represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 53,544 shares of company stock worth $14,328,561 in the last quarter. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Oppenheimer raised their price target on shares of Analog Devices from $265.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America raised their target price on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price target on shares of Analog Devices in a report on Tuesday, December 16th. Piper Sandler set a $290.00 price target on Analog Devices in a research report on Tuesday, November 25th. Finally, BNP Paribas Exane started coverage on Analog Devices in a research report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $305.52.

Analog Devices Trading Down 0.6%

Shares of Analog Devices stock opened at $300.25 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $309.17. The firm has a market capitalization of $147.02 billion, a PE ratio of 65.84, a P/E/G ratio of 1.62 and a beta of 1.03. The firm’s 50-day moving average price is $270.62 and its 200 day moving average price is $250.48.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the business earned $1.67 EPS. Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio is currently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.