Edgestream Partners L.P. Takes $1.39 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Edgestream Partners L.P. purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,523 shares of the semiconductor company’s stock, valued at approximately $1,386,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Callan Family Office LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $1,597,000. E Fund Management Co. Ltd. increased its position in Analog Devices by 37.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 16,180 shares of the semiconductor company’s stock worth $3,438,000 after buying an additional 4,386 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in Analog Devices by 19.5% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 3,750 shares of the semiconductor company’s stock worth $797,000 after buying an additional 613 shares in the last quarter. Freestone Capital Holdings LLC increased its position in Analog Devices by 18.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 15,055 shares of the semiconductor company’s stock worth $3,199,000 after buying an additional 2,397 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in Analog Devices by 1.3% in the fourth quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock worth $1,114,000 after buying an additional 65 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $216.26 on Tuesday. The company has a market cap of $107.26 billion, a P/E ratio of 68.87, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The business’s 50 day moving average price is $218.56 and its 200-day moving average price is $221.13. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.83%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADI shares. Morgan Stanley increased their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Profile

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.