Pinpoint Asset Management Singapore Pte. Ltd. Invests $714,000 in Analog Devices, Inc. $ADI

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,000 shares of the semiconductor company’s stock, valued at approximately $714,000.

Several other large investors have also modified their holdings of ADI. Brighton Jones LLC grew its holdings in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 529 shares during the last quarter. Cetera Investment Advisers boosted its position 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Analog Devices by 2.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,519 shares of the semiconductor company’s stock worth $23,902,000 after buying an additional 2,302 shares during the last quarter. LPL Financial LLC increased its position in Analog Devices by 11.0% during the first quarter. LPL Financial LLC now owns 528,072 shares of the semiconductor company’s stock worth $106,496,000 after buying an additional 52,416 shares during the period. Finally, Prosperity Consulting Group LLC purchased a new stake in Analog Devices in the first quarter valued at approximately $250,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $252.02 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.32 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $258.13. The company has a 50-day simple moving average of $238.83 and a 200-day simple moving average of $235.61. The company has a market capitalization of $123.98 billion, a PE ratio of 64.29, a P/E/G ratio of 1.98 and a beta of 1.09.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 18.85% and a return on equity of 10.32%. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be given a $0.99 dividend. The ex-dividend date is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.6%. Analog Devices’s dividend payout ratio (DPR) is currently 101.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, August 21st. Zacks Research lowered shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Cfra reiterated a “buy” rating and set a $280.00 target price on shares of Analog Devices in a research note on Tuesday. Wells Fargo & Company set a $265.00 price target on Analog Devices in a report on Tuesday. Finally, Truist Financial upped their price objective on Analog Devices from $219.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.20.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This trade represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the 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 sale, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,750 shares of company stock valued at $9,598,496 over the last 90 days. 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.