Harfst & Associates Inc. Purchases 1,171 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Harfst & Associates Inc. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,216 shares of the semiconductor company’s stock after buying an additional 1,171 shares during the quarter. Analog Devices makes up about 0.6% of Harfst & Associates Inc.’s investment portfolio, making the stock its 27th biggest position. Harfst & Associates Inc.’s holdings in Analog Devices were worth $2,812,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Analog Devices by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company’s stock valued at $9,437,781,000 after purchasing an additional 2,160,668 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company’s stock worth $1,614,735,000 after purchasing an additional 1,330,242 shares during the last quarter. Capital International Investors increased its stake in shares of Analog Devices by 14.3% in the first quarter. Capital International Investors now owns 5,155,597 shares of the semiconductor company’s stock valued at $1,019,726,000 after buying an additional 644,945 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Analog Devices by 21.4% in the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company’s stock valued at $993,293,000 after buying an additional 767,534 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Analog Devices by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company’s stock worth $963,788,000 after buying an additional 211,202 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Analog Devices in a research note on Thursday, August 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.80.

Insider Activity

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares of the company’s stock, valued at $1,078,935.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Edward H. Frank sold 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $6,867,900.00. Following the sale, the executive vice president now owns 79,093 shares in the company, valued at $18,106,760.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock worth $20,794,658 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 0.4 %

ADI stock traded up $0.99 during midday trading on Friday, hitting $228.33. 1,763,100 shares of the company’s stock were exchanged, compared to its average volume of 3,250,594. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The company has a market cap of $113.30 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. The stock’s fifty day moving average price is $225.95 and its 200-day moving average price is $220.85.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is 85.98%.

About Analog Devices

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.