Russell Investments Group Ltd. Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Russell Investments Group Ltd. grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,066 shares of the semiconductor company’s stock after purchasing an additional 78,165 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Analog Devices worth $86,701,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADI. Patriot Financial Group Insurance Agency LLC grew its position in shares of Analog Devices by 37.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,635 shares of the semiconductor company’s stock valued at $461,000 after purchasing an additional 715 shares in the last quarter. Ropes Wealth Advisors LLC grew its position in shares of Analog Devices by 16.1% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 2,480 shares of the semiconductor company’s stock valued at $434,000 after purchasing an additional 343 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Analog Devices by 3.1% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 2,083 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 62 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Analog Devices by 27.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,124 shares of the semiconductor company’s stock valued at $722,000 after purchasing an additional 890 shares in the last quarter. Finally, Golden State Equity Partners grew its position in shares of Analog Devices by 10.5% during the 3rd quarter. Golden State Equity Partners now owns 1,971 shares of the semiconductor company’s stock valued at $345,000 after purchasing an additional 188 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ADI shares. The Goldman Sachs Group upped their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Barclays upped their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. KeyCorp upped their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a research report on Thursday, January 4th. Finally, Truist Financial cut their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Trading Up 2.0 %

Shares of NASDAQ:ADI traded up $4.03 during midday trading on Friday, hitting $201.97. 3,136,261 shares of the stock traded hands, compared to its average volume of 3,090,032. The stock has a market capitalization of $100.16 billion, a PE ratio of 36.13, a P/E/G ratio of 5.07 and a beta of 1.17. The business’s 50 day moving average is $193.45 and its two-hundred day moving average is $187.36. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last three months. Corporate insiders own 0.31% of the company’s stock.

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.