Tidal Investments LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Tidal Investments LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 106.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,148 shares of the semiconductor company’s stock after purchasing an additional 25,834 shares during the period. Tidal Investments LLC’s holdings in Analog Devices were worth $10,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADI. Norges Bank bought a new stake in Analog Devices during the fourth quarter valued at about $1,755,958,000. Raymond James Financial Inc. purchased a new stake in shares of Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC increased its position in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Analog Devices by 301.1% during 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 buying an additional 1,186,981 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company’s stock worth $458,683,000 after buying an additional 896,694 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

NASDAQ:ADI opened at $227.11 on Monday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $112.64 billion, a PE ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The stock’s 50-day moving average price is $196.58 and its 200-day moving average price is $210.33.

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

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.74%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,934 shares of company stock worth $8,735,156. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several analyst reports. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Barclays cut their target price on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Benchmark upped their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seaport Res Ptn raised Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Oppenheimer upped their target price on Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.95.

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.