Saxon Interests Inc. Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Saxon Interests Inc. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.7% during the 4th quarter, Holdings Channel reports. The firm owned 5,280 shares of the semiconductor company’s stock after buying an additional 593 shares during the quarter. Saxon Interests Inc.’s holdings in Analog Devices were worth $1,122,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’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 value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial increased their target price 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. TD Cowen cut 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.57.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $219.32 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The business’s 50 day moving average price is $216.03 and its 200 day moving average price is $222.66. The company has a market cap of $108.85 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14.

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

Analog Devices Announces Dividend

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

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.