Pine Valley Investments Ltd Liability Co Acquires 923 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pine Valley Investments Ltd Liability Co increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,603 shares of the semiconductor company’s stock after acquiring an additional 923 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Analog Devices were worth $1,828,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Crestwood Advisors Group LLC lifted its holdings in Analog Devices by 1.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 32,500 shares of the semiconductor company’s stock worth $6,905,000 after acquiring an additional 333 shares during the period. IFP Advisors Inc lifted its holdings in Analog Devices by 9.6% during the fourth quarter. IFP Advisors Inc now owns 2,469 shares of the semiconductor company’s stock worth $525,000 after acquiring an additional 216 shares during the period. J. W. Coons Advisors LLC lifted its holdings in Analog Devices by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,179 shares of the semiconductor company’s stock worth $3,437,000 after acquiring an additional 218 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Analog Devices in the fourth quarter valued at $1,068,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Analog Devices in the fourth quarter valued at $1,690,000. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $235.30 on Wednesday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The business has a 50-day simple moving average of $216.35 and a 200 day simple moving average of $220.81. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $116.70 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analysts Set New Price Targets

ADI has been the topic of several research reports. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Morgan Stanley boosted their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, Benchmark boosted their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

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.