Simon Quick Advisors LLC Has $501,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Simon Quick Advisors LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,357 shares of the semiconductor company’s stock after purchasing an additional 611 shares during the period. Simon Quick Advisors LLC’s holdings in Analog Devices were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the 3rd quarter valued at about $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Analog Devices in the third quarter valued at approximately $43,000. Reston Wealth Management LLC acquired a new position in shares of Analog Devices during the 3rd quarter worth $48,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Analog Devices during the 3rd quarter worth $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADI shares. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Finally, Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Stock Up 1.2 %

ADI stock opened at $224.08 on Thursday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $111.18 billion, a PE ratio of 68.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. The business’s 50-day simple moving average is $215.66 and its 200 day simple moving average is $222.33.

Analog Devices (NASDAQ:ADI) last released 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 business 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%. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

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.