Synergy Asset Management LLC Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Synergy Asset Management LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 11.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,569 shares of the semiconductor company’s stock after purchasing an additional 2,554 shares during the period. Synergy Asset Management LLC’s holdings in Analog Devices were worth $5,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADI. Baron Wealth Management LLC grew its position in Analog Devices by 8.3% during the 4th quarter. Baron Wealth Management LLC now owns 5,237 shares of the semiconductor company’s stock worth $1,113,000 after purchasing an additional 403 shares during the period. Invesco LLC boosted its stake in shares of Analog Devices by 28.1% in the fourth quarter. Invesco LLC now owns 3,519 shares of the semiconductor company’s stock worth $748,000 after buying an additional 772 shares during the last quarter. Swedbank AB grew its holdings in Analog Devices by 16.9% during the fourth quarter. Swedbank AB now owns 3,381,836 shares of the semiconductor company’s stock worth $718,505,000 after acquiring an additional 487,727 shares during the period. Iams Wealth Management LLC raised its position in Analog Devices by 2.2% during the fourth quarter. Iams Wealth Management LLC now owns 5,698 shares of the semiconductor company’s stock valued at $1,211,000 after acquiring an additional 125 shares in the last quarter. Finally, BSW Wealth Partners lifted its holdings in Analog Devices by 10.4% in the fourth quarter. BSW Wealth Partners now owns 1,288 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $11,029,300 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 0.2 %

Shares of ADI stock opened at $209.91 on Thursday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The stock has a market cap of $104.15 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 2.57 and a beta of 1.05. The company’s 50-day moving average price is $216.52 and its 200-day moving average price is $221.75. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.75%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADI shares. Truist Financial raised their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Morgan Stanley cut their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Company 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.