Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,900 shares of the semiconductor company’s stock after purchasing an additional 828 shares during the period. Royal Fund Management LLC’s holdings in Analog Devices were worth $1,480,000 as of its most recent filing with the SEC.

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

Analog Devices Stock Up 1.9 %

NASDAQ ADI opened at $219.16 on Tuesday. The stock’s 50 day moving average is $215.64 and its two-hundred day moving average is $222.47. 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, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The company has a market capitalization of $108.77 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. Equities analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $11,029,300 in the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $248.70.

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.