Waterloo Capital L.P. Takes $290,000 Position in Analog Devices, Inc. $ADI

Waterloo Capital L.P. acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,217 shares of the semiconductor company’s stock, valued at approximately $290,000.

Several other hedge funds have also made changes to their positions in ADI. Brighton Jones LLC lifted its stake in Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 529 shares during the period. Cetera Investment Advisers raised its holdings in shares of Analog Devices by 1.1% in the 1st quarter. Cetera Investment Advisers now owns 94,970 shares of the semiconductor company’s stock valued at $19,153,000 after purchasing an additional 1,012 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Analog Devices by 2.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,519 shares of the semiconductor company’s stock valued at $23,902,000 after purchasing an additional 2,302 shares in the last quarter. LPL Financial LLC lifted its position in shares of Analog Devices by 11.0% in the 1st quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock worth $106,496,000 after purchasing an additional 52,416 shares during the period. Finally, Prosperity Consulting Group LLC bought a new position in shares of Analog Devices during the first quarter valued at approximately $250,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the completion of the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Martin Cotter sold 12,500 shares of Analog Devices stock in a transaction on Friday, September 5th. The stock was sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the sale, the senior vice president owned 63,048 shares of the company’s stock, valued at $15,525,570. The trade was a 16.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 39,750 shares of company stock worth $9,598,496. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADI shares. BNP Paribas Exane started coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Cantor Fitzgerald lifted their price target on Analog Devices from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Piper Sandler set a $290.00 target price on Analog Devices in a research note on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $281.62.

Analog Devices Stock Up 5.3%

Shares of ADI stock opened at $252.02 on Wednesday. The stock’s fifty day moving average price is $238.83 and its 200 day moving average price is $235.61. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $258.13. The company has a market cap of $123.98 billion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s payout ratio is currently 101.02%.

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.