Empirical Asset Management LLC Has $3.72 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Empirical Asset Management LLC raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,509 shares of the semiconductor company’s stock after purchasing an additional 2,060 shares during the quarter. Empirical Asset Management LLC’s holdings in Analog Devices were worth $3,720,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADI. Raymond James & Associates grew its holdings in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares during the period. Franklin Resources Inc. boosted its position in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC grew its stake in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after purchasing an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Price Performance

ADI opened at $215.02 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market capitalization of $106.71 billion, a price-to-earnings ratio of 65.36, a P/E/G ratio of 2.43 and a beta of 1.05. The firm’s fifty day moving average price is $216.03 and its two-hundred day moving average price is $222.66.

Analog Devices (NASDAQ:ADI) last released 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm earned $2.01 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Analog Devices 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.