Simplicity Solutions LLC Acquires 2,990 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Simplicity Solutions LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,980 shares of the semiconductor company’s stock after purchasing an additional 2,990 shares during the period. Simplicity Solutions LLC’s holdings in Analog Devices were worth $2,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Halpern Financial Inc. boosted its stake in Analog Devices by 331.4% in the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 116 shares in the last quarter. Fortis Capital Advisors LLC acquired a new stake in Analog Devices in the first quarter valued at approximately $31,000. Silver Oak Securities Incorporated acquired a new stake in Analog Devices in the third quarter valued at approximately $29,000. Finally, Quarry LP raised its holdings in shares of Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after buying an additional 123 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 3.2 %

Shares of Analog Devices stock opened at $192.27 on Friday. The firm has a market capitalization of $95.35 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.82 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a 50 day moving average of $193.24 and a 200 day moving average of $186.14.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.75 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.91%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,825,113 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a report on Thursday. Finally, Barclays lifted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.26.

Get Our Latest Stock Analysis on Analog Devices

Analog Devices Profile

(Free Report)

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.

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

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