Choreo LLC Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Choreo LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 25.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,868 shares of the semiconductor company’s stock after acquiring an additional 4,887 shares during the period. Choreo LLC’s holdings in Analog Devices were worth $5,073,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Stratos Investment Management LLC grew its stake in Analog Devices by 5.7% in the 4th quarter. Stratos Investment Management LLC now owns 2,477 shares of the semiconductor company’s stock worth $526,000 after acquiring an additional 133 shares during the period. Sargent Investment Group LLC boosted its holdings in shares of Analog Devices by 8.0% during the fourth quarter. Sargent Investment Group LLC now owns 1,328 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 98 shares during the last quarter. Avitas Wealth Management LLC grew its position in shares of Analog Devices by 0.7% in the fourth quarter. Avitas Wealth Management LLC now owns 13,900 shares of the semiconductor company’s stock valued at $2,953,000 after purchasing an additional 92 shares during the period. Calamos Wealth Management LLC increased its stake in Analog Devices by 25.5% in the fourth quarter. Calamos Wealth Management LLC now owns 55,138 shares of the semiconductor company’s stock valued at $11,715,000 after purchasing an additional 11,212 shares during the last quarter. Finally, GDS Wealth Management lifted its position in Analog Devices by 314.1% during the fourth quarter. GDS Wealth Management now owns 8,335 shares of the semiconductor company’s stock worth $1,771,000 after buying an additional 6,322 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI stock opened at $209.80 on Thursday. The firm has a fifty day simple moving average of $215.80 and a 200-day simple moving average of $220.76. The company has a market capitalization of $104.08 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. 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 data 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 company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.