Asset Dedication LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Posted by on Mar 30th, 2023

Asset Dedication LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 184.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478 shares of the semiconductor company’s stock after buying an additional 310 shares during the quarter. Asset Dedication LLC’s holdings in Analog Devices were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. grew its stake in Analog Devices by 7.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 25,150 shares of the semiconductor company’s stock worth $4,126,000 after buying an additional 1,833 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in Analog Devices by 5.2% during the 4th quarter. Stanley Laman Group Ltd. now owns 20,933 shares of the semiconductor company’s stock worth $3,434,000 after acquiring an additional 1,036 shares during the period. Pendal Group Ltd lifted its position in Analog Devices by 21.2% during the 4th quarter. Pendal Group Ltd now owns 148,440 shares of the semiconductor company’s stock worth $24,349,000 after acquiring an additional 26,012 shares during the period. Marion Wealth Management lifted its position in Analog Devices by 19.0% during the 4th quarter. Marion Wealth Management now owns 17,175 shares of the semiconductor company’s stock worth $2,817,000 after acquiring an additional 2,743 shares during the period. Finally, Fiduciary Alliance LLC acquired a new stake in Analog Devices during the 4th quarter worth about $62,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Analog Devices from $170.00 to $200.00 in a research report on Thursday, February 16th. Credit Suisse Group lifted their price target on Analog Devices from $185.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Cowen lifted their price target on Analog Devices from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, December 9th. Citigroup boosted their price objective on Analog Devices from $195.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 17th. Finally, The Goldman Sachs Group boosted their price objective on Analog Devices from $186.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $213.68.

Insider Activity

In other news, Director Tunc Doluca sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $194.34, for a total value of $1,166,040.00. Following the completion of the sale, the director now directly owns 61,157 shares in the company, valued at $11,885,251.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Tunc Doluca sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $194.34, for a total value of $1,166,040.00. Following the completion of the sale, the director now directly owns 61,157 shares in the company, valued at $11,885,251.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $187.01, for a total value of $4,909,012.50. Following the completion of the sale, the chief financial officer now owns 23,871 shares of the company’s stock, valued at $4,464,115.71. The disclosure for this sale can be found here. Insiders sold 40,445 shares of company stock worth $7,606,735 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analog Devices Price Performance

NASDAQ:ADI opened at $189.17 on Thursday. Analog Devices, Inc. has a 12 month low of $133.48 and a 12 month high of $196.41. The stock has a 50 day moving average of $181.72 and a two-hundred day moving average of $165.12. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 0.18. The firm has a market cap of $95.69 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 1.45 and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.60 by $0.15. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $1.94 EPS. Analog Devices’s quarterly revenue was up 21.1% on a year-over-year basis. On average, analysts expect that Analog Devices, Inc. will post 10.6 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 8th. Stockholders of record on Monday, February 27th were given a $0.86 dividend. The ex-dividend date was Friday, February 24th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.76. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.82%. Analog Devices’s dividend payout ratio is 51.89%.

Analog Devices Company Profile

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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