Woodstock Corp raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,162 shares of the semiconductor company’s stock after acquiring an additional 778 shares during the quarter. Woodstock Corp’s holdings in Analog Devices were worth $3,282,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ADI. Key Financial Inc bought a new stake in Analog Devices during the 4th quarter valued at approximately $28,000. Diversified LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $29,000. Duncker Streett & Co. Inc. bought a new stake in Analog Devices during the 4th quarter valued at approximately $38,000. Catalyst Capital Advisors LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $38,000. Finally, Concord Wealth Partners bought a new stake in Analog Devices during the 4th quarter valued at approximately $38,000. 91.90% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on ADI. BMO Capital Markets boosted their price target on Analog Devices from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 16th. Credit Suisse Group boosted their price target on Analog Devices from $165.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 18th. KeyCorp boosted their price target on Analog Devices from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. Zacks Investment Research raised Analog Devices from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a research report on Monday, February 22nd. Finally, Piper Sandler boosted their price target on Analog Devices from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $157.92.
Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, February 16th. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 5.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Stockholders of record on Friday, February 26th were given a dividend of $0.69 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, February 25th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.73%. Analog Devices’s payout ratio is presently 56.21%.
In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $148.34, for a total value of $1,483,400.00. Following the completion of the transaction, the chief executive officer now owns 16,957 shares of the company’s stock, valued at approximately $2,515,401.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Martin Cotter sold 1,557 shares of the company’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $150.42, for a total transaction of $234,203.94. Following the completion of the transaction, the senior vice president now directly owns 7,064 shares of the company’s stock, valued at approximately $1,062,566.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,958 shares of company stock valued at $10,118,958. Insiders own 0.42% of the company’s stock.
Analog Devices Company Profile
Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.
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