OLD National Bancorp IN Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

OLD National Bancorp IN grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,607 shares of the semiconductor company’s stock after acquiring an additional 930 shares during the quarter. OLD National Bancorp IN’s holdings in Analog Devices were worth $3,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Analog Devices by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,502 shares of the semiconductor company’s stock worth $6,733,000 after purchasing an additional 1,317 shares in the last quarter. Quarry LP acquired a new stake in shares of Analog Devices in the 2nd quarter worth $92,000. EP Wealth Advisors LLC boosted its position in shares of Analog Devices by 10.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 4,983 shares of the semiconductor company’s stock worth $1,137,000 after purchasing an additional 457 shares in the last quarter. New Century Financial Group LLC acquired a new stake in shares of Analog Devices in the 2nd quarter worth $208,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Analog Devices in the 2nd quarter worth $17,270,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $212.40 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The business has a 50-day moving average price of $216.50 and a 200 day moving average price of $221.67. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $105.37 billion, a PE ratio of 64.56, a P/E/G ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.73%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.