Freestone Grove Partners LP Invests $10.21 Million in Analog Devices, Inc. (NASDAQ:ADI)

Freestone Grove Partners LP purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,064 shares of the semiconductor company’s stock, valued at approximately $10,212,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Invst LLC lifted its stake in Analog Devices by 7.7% in the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 70 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Analog Devices by 33.2% in the third quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company’s stock worth $572,000 after buying an additional 619 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in Analog Devices by 0.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company’s stock valued at $1,768,000 after buying an additional 65 shares during the last quarter. Tidal Investments LLC grew its holdings in Analog Devices by 9.9% during the 3rd quarter. Tidal Investments LLC now owns 24,314 shares of the semiconductor company’s stock valued at $5,596,000 after buying an additional 2,188 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADI shares. Stifel Nicolaus lowered their target price on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a research report on Wednesday. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $250.43.

Analog Devices Trading Down 0.6 %

ADI stock opened at $193.74 on Friday. The company has a market capitalization of $96.09 billion, a PE ratio of 61.70, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The firm’s 50-day moving average is $199.53 and its 200 day moving average is $211.78.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.04%. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,809 shares of company stock worth $6,154,756. Company insiders own 0.33% of the company’s stock.

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.